Avient upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank analyst David Huang upgraded Avient to Buy from Hold with a price target of $52, up from $49. The analyst believes Q2 “marked an important inflection point” for Avient. Not only did the company’s organic volumes inflected positively following nine quarters of consecutive declines, the better than expected volume trends were driven by new business wins and share gains in addition to inventory restocking, the analyst tells investors in a research note. The firm says that with new volume drivers under the new CEO taking hold, Avient “should be recognized as a differentiated growth story in the space over time.”