Canaccord Genuity analyst Susan Anderson maintained a Buy rating on Kenvue, Inc. (KVUE – Research Report) yesterday and set a price target of $29.00.
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Susan Anderson’s rating is based on Kenvue, Inc.’s strategic expansion into the supplements market under the well-established Tylenol brand. This move leverages Tylenol’s strong brand recognition to introduce innovative products that cater to consumer demand for drug-free joint support solutions. By partnering with NXT USA and utilizing their clinically-proven TamaFlex blend, Kenvue is able to offer products that promise improved joint comfort and flexibility, enhancing their appeal in the health and wellness sector.
Furthermore, the expansion into the vitamins, minerals, and supplements (VMS) category aligns with the growing consumer trend towards self-care and natural solutions. The VMS market is projected to grow significantly, and Kenvue’s entry into this space represents a strategic opportunity to capture a share of this expanding market. The availability of these new products at major retailers like Target, Walmart, and Amazon further supports the potential for increased sales and market penetration.
KVUE’s price has also changed slightly for the past six months – from $24.260 to $23.670, which is a -2.43% drop .