BofA Securities analyst George Staphos maintains $Avery Dennison (AVY.US)$ with a buy rating, and adjusts the target price from $250 to $251.
According to TipRanks data, the analyst has a success rate of 53.7% and a total average return of 5.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Avery Dennison (AVY.US)$'s main analysts recently are as follows:
Avery Dennison's recent RFID agreement with Kroger marks its initial foray into the expansive food market sector. The company is anticipated to encounter challenging logistics comparisons in its intelligent labels segment during the latter half of 2024. A neutral stance is being adopted until there is a clearer perspective on the underlying business dynamics.
Avery Dennison's shares experienced a decline despite a modest beat and raise, alongside the introduction of a new grocery platform. This was attributed to the current challenges associated with the Vestcom platform and concerns regarding a logistics 'speed bump' in RFID. Some investors perceive this as an end to the RFID growth narrative or a loss of market share for Avery Dennison. Nevertheless, it is assessed that neither concern is substantiated. With the Materials division on a stable trajectory and the increasing use cases for RFID applications expected to drive revenue growth and enhance margins, the anticipation is that the stock will perform well into 2025.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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