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AVY - Avery Dennison News Story

$221.46 1.1  0.5%

Last Trade - 07/05/21

Sector
Basic Materials
Size
Large Cap
Market Cap £13.16bn
Enterprise Value £14.46bn
Revenue £5.22bn
Position in Universe 634th / 6858

BUZZ-Keybanc upgrades Avery Dennison; cuts Owens-Illinois' rating

Tue 4th December, 2018 7:32am
** Keybanc upgrades packaging co Avery Dennison  AVY.N  to
"overweight" from "sector weight"
    ** Brokerage notes quality of AVY's business, says co's
return on assets highest among all the sector stocks covered by
it
    ** Says AVY's low leverage results give it flexibility in
the event the global economy weakens and asset prices fall
    ** "We think there is room for the relative multiple to
expand, and we expect the shares to relatively outperform peers
in the year ahead" - Keybanc
    ** Keybanc also downgrades glass container maker
Owens-Illinois'  OI.N  stock to "underweight" from "sector
weight"
    ** OI has struggled to grow volume in recent years, the
brokerage says
    ** Keybanc expects consensus estimates to decline and stock
to relatively underperform peers in the year ahead
    ** Up to Monday's close, AVY's stock down 16.25 pct YTD,
while that of OI fell 16.24 pct YTD

 (Reporting by Devbrat Saha in Bengaluru)
 ((devbrat.saha.thomsonreuters.com@reuters.net))
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