Goldman Sachs has made some changes in coverage to its consumer products universe.
The bulge bracket brokerage firm favors Avon Products, Inc. (NYSE: AVP) and Colgate-Polmolive Co. (NYSE: CL) and gave both companies some increased earnings target estimates for both this year and next, while making downgrades and some estimate cuts elsewhere in the household consumer products sector.
The brokerage firm has transitioned a Neutral rating down to a "Sell" rating on Kimberly-Clark Corp. (NYSE: KMB). Also, both Bare Escentuals, Inc. (NASDAQ: BARE) and Procter & Gamble Co. (NYSEL PG) were downgraded from Buy ratings down to "Neutral" ratings.
This was a coverage transition in an analysts this morning at Goldman Sachs, with Andrew Sawyer assuming US Household Products coverage from Amy Chasen.
Jon C. Ogg
April 9, 2008
Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at email@example.com and he does not own securities in the companies he covers.