Avery Dennison price target lowered to $216 from $226 at BMO Capital

BMO Capital lowered the firm’s price target on Avery Dennison (AVY) to $216 from $226 but keeps an Outperform rating on the shares after its Q1 results and below-consensus guide. The company won’t be entirely unscathed from tariff and macro risk as apparel producers – particularly those tied to China – have temporarily taken a pause in their tagging and a small portion of its raw inputs have inflationary pressure, but with stability in a large part of its Materials business, Avery’s global sourcing and continued secular growth in the RFID arena, it should post EPS growth in a tough environment, the analyst tells investors in a research note.