Avery Dennison upgraded to Outperform from Neutral at RW Baird Baird upgraded Avery Dennison (AVY) due to relative valuation, productivity focus, and potential capital allocation. The firm recommends swapping into Avery over MeadWestvaco (MWV), which was downgraded to Neutral from Outperform. Avery price target was raised to $57 from $52.
U.S. Paper & Packaging sector raiseed to Positive at Barclays Barclays upgraded the U.S. Paper & Packaging sector to Positive from Neutral saying stocks in the space offer investors an attractive alternative in 2015 due to improving demand and input cost reductions. The firm calls Containerboard its preferred subsector, and recommends a long position in Crown Holdings (CCK) versus Ball Corp. (BLL). The firm downgraded the latter to Equal Weight from Overweight. Barclays also upgraded to Overweight shares of Avery Dennison (AVY). It calls Berry Plastics (BERY) a top pick.