BMO Capital Raises Price Target for Avery Dennison (AVY)

Avery Dennison (NYSE:AVY) is one of the 8 best paper and plastic packaging stocks to buy according to hedge funds.

On February 6, the price target on Avery Dennison (NYSE:AVY) was raised from $215 to $224 by BMO Capital analyst John McNulty. The analyst maintained his Outperform rating on the stock following its fourth-quarter earnings beat. He forecasts growth and revaluation prospects for the company based on its focus on execution, positive secular trends, and better cash flows.

Copyright: bialasiewicz / 123RF Stock Photo

On January 6, Truist Financial also raised its price target for Avery Dennison (NYSE:AVY) from $213 to $234, maintaining a Buy rating on the stock. The upward revision now implies upside potential of more than 22%.

The firm expects slight weakness in packaging volumes in early 2026, but also noted that some CPGs are increasing volumes while successfully retaining price gains. The firm anticipates continued growth for beverage cans across North America and Europe, with expectations of price increments by containerboard producers due to their controlled supplies.

Avery Dennison (NYSE:AVY) is a materials science and digital identification solutions provider that operates through two segments, i.e., Materials Group and Solutions Group. It offers pressure-sensitive label materials, performance tapes products, converted products, and other adhesive-based materials. The company sells its products through brands like Avery Dennison, Fasson, and JAC.

READ NEXT: 15 Most Promising Mid-Cap Healthcare Stocks Under $50 and 11 Most Promising Small-Cap Industrial Stocks Under $50.

Disclosure: None. This article is originally published at Insider Monkey.