Avery Dennison price target lowered to $248 from $249 at Truist

Truist analyst Michael Roxland lowered the firm’s price target on Avery Dennison to $248 from $249 and keeps a Buy rating on the shares after its Q4 results and guidance. During the quarter, label volumes improved sequentially n Europe and North America with momentum persisting in January, though the firm is tweaking its price target lower to reflect ongoing destocking against moderating apparel weakness, the analyst tells investors in a research note.