** Packaging and label maker Avery Dennison's shares rise 2.3% to $219.78

** BofA double upgrades rating to "buy" from "underperform", citing improved outlook for e-commerce and box-board markets

** Lifts price target to $250 from $207, representing over 16% upside to the stock's last close

** "We believe that the macro tide is rising for both of AVY's businesses." - BofA

** Four brokerages rate the stock "strongbuy", six "buy" and four "hold"; their median PT is $250 - LSEG data

** As of last close, stock had risen 8.7% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))