Analyst Lars Kjellberg from Stifel Nicolaus maintained a Buy rating on Avery Dennison (AVY – Research Report) and keeping the price target at $236.00.
Lars Kjellberg has given his Buy rating due to a combination of factors including Avery Dennison’s ability to maintain steady performance amid market uncertainties. Despite a slight underperformance in Q1 earnings per share compared to expectations, the company’s revenue aligned with forecasts, demonstrating resilience in challenging conditions.
Avery Dennison’s strategic shift to quarterly guidance reflects its adaptability and focus on managing market volatility effectively. The company’s growth in high-value categories and its ability to offset declines in certain segments, like logistics, with strong performance in others, such as food and apparel, further supports the positive outlook. Additionally, anticipated sales growth and incremental savings from restructuring efforts contribute to a favorable future performance projection, justifying the Buy rating.
In another report released yesterday, Barclays also reiterated a Buy rating on the stock with a $210.00 price target.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVY in relation to earlier this year.