Truist Is Bullish On Avery Dennison, Sees Sharp Upside

• Truist analyst Michael Roxland Avery Dennison Corp (NYSE:AVY) initiated coverage with a Buy rating and a price target of $227 (an upside of 33%).
• Roxland argues that the Street underestimates growth in RFID and Intelligent Labels.
• Avery Dennison manufactures pressure-sensitive materials, merchandise tags, and labels. The company also runs a specialty converting business that produces radio-frequency identification inlays and labels.
• Price Action: AVY shares traded higher by 2.39% at $170.80 on the last check Friday.