Avery Dennison price target lowered to $245 from $258 at Truist

Truist lowered the firm’s price target on Avery Dennison (AVY) to $245 from $258 and keeps a Buy rating on the shares as part of a broader research note previewing 2025 for the Packaging/Paper sector. The earlier part of the year will begin where 2024 ended, with packaging volumes in aggregate being somewhat challenged due to modest promotional activity, and while there has been increasing discussion amongst leading consumer packaged goods names regarding promotional activity, this has yet to result in notable volume growth as they remain content with margins given price increases the last few years, the analyst tells investors in a research note.