Avery Dennison price target raised to $198 from $195 at BofA

BofA raised the firm’s price target on Avery Dennison (AVY) to $198 from $195 and keeps a Buy rating on the shares. The firm believes that the macro tide is rising for both of Avery’s businesses and trends should particularly improve relative to investor concerns in intelligent labels. Recent initiatives by major retailers and logistics firms with IL are positive, the analyst tells investors in a research note.