Avery Dennison price target lowered to $190 from $210 at Baird

Baird lowered the firm’s price target on Avery Dennison to $190 from $210 and keeps an Outperform rating on the shares. The firm said while intrinsic growth drivers are very much intact for Avery Dennison, the persistency of volume weakness as destocking morphs into end-market category weakness continues to weigh on near-term earnings visibility.