JPMorgan analyst Jeffrey Zekauskas upgraded Avery Dennison (AVY) to Overweight from Neutral with a price target of $195, up from $182. The firm cites the company’s collaboration with Walmart (WMT) for the upgrade. Avery is now likely to be valued more highly because of its opportunities in the radio-frequency identification food category, the analyst tells investors in a research note. JPMorgan sees Avery’s total revenue opportunity from the Walmart deal at around $100M.
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