Avery Dennison (AVY) PT Raised to $250 at Baird

Baird analyst Ghansham Panjabi raised the price target on Avery Dennison (NYSE: AVY) to $250.00 (from $230.00) while maintaining a Outperform rating.

The analyst commented: "We remain comfortable with our Outperform rating on the shares of Avery Dennison noting that 2024 is shaping up to be a year of normalization in the fundamentals along with a sustained reacceleration in volume growth (led by RFID), following a tough 2023 in particular. Our raised $250 price target is based on ~24x our 2025 EPS estimate of $10.55, noting that $300 is the realistic upside case longer term (~25x on $12 earnings power)."

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