With the U.S. economic landscape becoming more uncertain, it's prudent to add a defensive stock or two to your portfolio, and with the aforementioned in mind Avery Dennison is worth an evaluation.

Avery Dennison Corporation (NYSE: AVY) is the leading global manufacturer of pressure-sensitive technology and self-adhesive solutions for consumer products and label systems, including office/school products, product identification and control systems, and specialty tapes and chemicals.

Analysts like AVY's office products/school products division, with a better-than-expected season seen for 2008. Further, AVY's international business is likely to continue to growth at a healthy rate in 2008-2009, on solid revenue gains in Europe, Asia, and Latin America. The Reuters FY 2008/FY 2009 EPS consensus estimates for AVY are $4.27 to $4.83.
The risks? Analysts are keeping an eye on AVY's raw material costs, as well as the company's ability to continue to launch new products on time.

The First Call mean rating for AVY is: Hold [8 firms]. Mean 2008 target: $54 [high: $72, low: $57].

Stock Analysis: Avery Dennison is a moderate-risk stock not suitable for low-risk investors. Investors with an investment horizon longer than 2 years should be rewarded from AVY's shares. Sell/Stop Loss if you were to purchase shares in this company: $33.

Disclosure: Lazzaro has no positions in stocks. In addition to private real estate holdings, he owns corporate and municipal bonds, and cash certificates of deposit.