Why Avery Dennison Is Still A Buy: Analyst Highlights 40% Growth In Intelligent Labels And End To Destocking
Portfolio Pulse from Shivani Kumaresan
Truist Securities analyst Michael Roxland reiterated a Buy rating on Avery Dennison Corp (NYSE:AVY) with an unchanged price target of $215. The analyst highlighted a 40% growth in Intelligent Labels and the end of destocking across most markets. Despite some potential weakness in Europe due to softer consumer demand, the end of destocking is expected to improve volume decline rates. The company is also experiencing growth in other verticals such as food and general merchandise.
September 05, 2023 | 5:53 pm
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Avery Dennison Corp (AVY) is expected to see growth due to the end of destocking and a 40% increase in Intelligent Labels. The company is also seeing growth in other verticals.
The analyst's reiteration of a Buy rating on AVY, along with the expected end of destocking and growth in Intelligent Labels, indicates a positive outlook for the company. This is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100