Market Overview

UPDATE: Topeka Capital Markets Initiates Coverage on Avery Dennison Corporation with Hold Rating, $30 PT

Share:
Related AVY
Benzinga's Top Upgrades, Downgrades For June 20, 2017
Avery (AVY) Opens Electronics Solutions & Technology Center

In a report published Monday, Topeka Capital Markets initiated coverage on Avery Dennison Corporation (NYSE: AVY) with a Hold rating and $30.00 price target.

Topeka Capital noted, “We are initiating coverage of AVY with a Hold rating and a $30 price target. AVY is the leading global, and best-in-class producer of pressure sensitive materials, serving the worldwide label/converting industry. The pressure sensitive industry has become increasingly mature, and current growth prospects appear modest, especially in light of industry and macro headwinds. Absent greater visibility on fundamental inflections in core businesses or the potential disposition of its Office & Consumer Products business, but considering AVY's strong cash flow and dividend yield, AVY appears fairly valued at current levels.”

Avery Dennison Corporation closed on Friday at $30.34.

Latest Ratings for AVY

DateFirmActionFromTo
Jun 2017Bank of AmericaUpgradesNeutralBuy
Jan 2017CitigroupUpgradesNeutralBuy
Dec 2016Bank of AmericaUpgradesUnderperformNeutral

View More Analyst Ratings for AVY
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Initiation Analyst Ratings

 

Related Articles (AVY)

View Comments and Join the Discussion!