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.
Avery Dennison price target raised to $65 from $60 at Baird Baird raised its price target on Avery Dennison to $65 from $60 citing the company's disciplined capital allocation, pursuit of profitable growth, and sense of urgency within the company. Baird reiterated its Outperform rating on Avery Dennison shares.