Raymond James raised the firm’s price target on Avery Dennison to $240 from $225 and keeps an Outperform rating on the shares. Avery Dennison posted a solid Q1 adjusted EPS and EBITDA margin beat, showcasing the potential for margin inflection as volumes normalize, the analyst tells investors in a research note. The firm continues to believe the growth and margin expansion narrative remains intact driven by both Intelligent Labels and productivity realization as volumes normalize.
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