Avery Dennison price target lowered to $247 from $252 at BMO Capital

BMO Capital lowered the firm’s price target on Avery Dennison (AVY) to $247 from $252 but keeps an Outperform rating on the shares. Despite a modest beat and raise as well as the launch of a new grocery platform, the stock stock sold off on commentary around the Vestcom platform’s current headwinds as well as concerns about the logistics “speed bump” in RFID that has some investors convinced that the RFID growth story is over or that Avery Dennison is losing share, the analyst tells investors in a research note. BMO adds however that it sees neither as true, noting that with Materials on stable footing and growing cases for RFID applications that will drive top-line growth and margin lift, it believes the stock should outperform in 2025.