Avient price target raised to $44 from $35 at Baird

Baird analyst Ben Kallo raised the firm’s price target on Avient to $44 from $35 and keeps an Outperform rating on the shares. The analyst said COVID lockdown uncertainty and demand issues persist going into 2023, however, he is encouraged by the company’s transition to a pure-play specialty formulator following the divestiture of its Distribution business.