Avery Dennison price target lowered to $223 from $233 at Truist

Truist lowered the firm’s price target on Avery Dennison (AVY) to $223 from $233 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in Packaging and Paper Products. The firm is updating its estimates to reflect current market conditions, including elevated energy and freight costs, along with the ongoing trends gleaned during its recent check-ins with the management and comments made during the recent industry conferences, the analyst tells investors in a research note.