Citi analyst Filippo Falorni is cautious on Kenvue (KVUE) after 3,000 people in the United Kingdom filed a lawsuit against Johnson & Johnson (JNJ), claiming the company knowingly sold baby powder contaminated with asbestos. Kenvue is liable for any talc-related litigation outside of the U.S. and Canada, according to J&J, the analyst tells investors in a research note. Citi is cautious Kenvue give the legal outcomes of the U.S. talc cases against J&J. The firm has a Neutral rating on Kenvue with a $17 price target. The stock in late morning trading is down 12c to $16.14.
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