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BofA Lowers Avery Dennison (AVY) Target as Deutsche Bank Starts Coverage Bullish
BofA has reduced its price target for Avery Dennison (AVY) to $201 from $210, while maintaining a Buy rating. This adjustment follows Deutsche Bank initiating coverage of the company with a Buy rating and a $200 price target. Both firms acknowledge the challenging economic landscape affecting the packaging sector, with Deutsche Bank being more optimistic about rigid and flexible packaging compared to fiber-based packaging.