Loop Capital analyst Chris Kapsch raised the firm’s price target on Avery Dennison to $247 from $214 and keeps a Buy rating on the shares. The firm is shifting its valuation framework on the stock to possible 2025 earnings while also highlighting what it expects to be a greater appreciation for the company’s RFID franchise, the analyst tells investors in a research note. Investors should and will continue to look past the potential for any modest quarterly earnings disappointment in the immediate near-term, focusing on Avery Dennison’s re-rate potential in and around the accelerating RFID adoption, Loop added.
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