Avery Dennison price target lowered to $200 from $220 at Argus

Argus analyst Nicholas Eade lowered the firm’s price target on Avery Dennison to $200 from $220 but keeps a Buy rating on the shares. The analyst cites the company’s Q2 earnings miss but also saw sequential improvement, and this trend is expected to continue, the analyst tells investors in a research note. Despite inflationary pressures, currency headwinds, and increasing economic uncertainty, Argus sees volume recovery, restructuring savings, and productivity improvements to benefit earnings in the coming quarters, the firm added.