Citi analyst Filippo Falorni maintained a Hold rating on Kenvue, Inc. yesterday and set a price target of $18.00.
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Filippo Falorni has given his Hold rating due to a combination of factors surrounding Kenvue, Inc. One of the primary reasons is the ongoing legal proceedings related to the MDL case on acetaminophen, which could potentially impact the company’s stock performance. The recent court hearing seemed to favor the plaintiffs, leading to a negative market reaction and a drop in KVUE’s stock price.
Furthermore, the uncertainty regarding the timeline for the court’s decision adds to the cautious outlook. Appeals courts typically take several months to deliver their opinions, which means this legal issue could continue to affect Kenvue’s stock in the near future. Despite these challenges, the expected share price return remains at 10.8%, which supports the Hold rating as investors await further clarity on the legal front.
In another report released on November 7, Barclays also maintained a Hold rating on the stock with a $18.00 price target.