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AVY - Avery Dennison News Story

$197.13 5.2  2.7%

Last Trade - 09/04/21

Basic Materials
Large Cap
Market Cap £11.94bn
Enterprise Value £13.30bn
Revenue £5.09bn
Position in Universe 687th / 6827

BUZZ-Avery Dennison: Hits record high after raising earnings, cash flow forecasts

Wed 21st October, 2020 5:09pm
** Shares of U.S. packaging products maker  AVY.N  rise as
much as 6% to record high of $142.50
    ** Stock up for second straight session and on track to post
biggest one-day gain in over six months
    ** Raises 2020 earnings and cash flow forecasts, helped by
cost controls and a smaller-than-expected fall in Q3 revenue, as
demand improves following easing of coronavirus-led lockdowns
    ** Says expects 2020 earnings to exceed prior year, compared
with it prior expectation of a full-year decline
    ** Says aiming for 2020 free cash flow of more than $500
mln, up from an estimate of about $500 mln, previously; says
continues to expect 2020 sales to be down vs prior year
    ** YTD, stock has risen about 6.8%, marginally above a 6.6%
increase in the S&P 500 index  .SPX 

 (Reporting by Ankit Ajmera in Bengaluru)
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