LULU - Avery Dennison Stands Strong: Analyst Reaffirms Buy Rating Unaffected by Red Sea Supply Chain Concerns | Benzinga
Truist Securities analyst Michael Roxland reiterated a Buy rating on the shares of Avery Dennison Corporation (NYSE:AVY) with an unchanged price target of $249.
Earlier this week, several apparel retailers like Abercrombie & Fitch Co (NYSE:ANF) and Lululemon Athletica Inc (NASDAQ:LULU) raised fourth-quarter FY23 sales guidance predicated on better-than-expected holiday sales following some improvement in U.S. apparel sales in November, says the analyst.
The analyst notes that weak apparel demand hampered more prominent Intelligent Labels growth for most of 2023 as apparel is Avery Dennison's ...