Caris says a higher bid for Avon (AVP -1.6%) from Coty is even more unlikely with a new CEO, but...

|About: Avon Products, Inc. (AVP)|By:, SA News Editor

Caris says a higher bid for Avon (AVP -1.6%) from Coty is even more unlikely with a new CEO, but the firm still finds plenty of reasons to “remain constructive” on AVP shares, as “the long-term earnings and cash flow upside from operational improvement under a new CEO is substantial." Shares remain below last week's $23.25/share offer.