Barclays analyst Lauren Lieberman finds Coty's $23.25-a-share offer for Avon Products (AVP...

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

Barclays analyst Lauren Lieberman finds Coty's $23.25-a-share offer for Avon Products (AVP +18.8%) "relatively reasonable" with Avon's track record of lackluster growth over the last 5 years and given that the sector's average deal goes off at 13X operating profit. The company itself begs to differ, citing the low multiple of 1.1X net revenue the offer reflects and the discounting of the improved prospects for Avon under its new CEO.