Kenvue initiated with an In Line at Evercore ISI

Evercore ISI analyst Javier Escalante initiated coverage of Kenvue (KVUE) with an In Line rating and $25 price target The firm says a key tenet in the Kenvue investment case is predicated on the company turning around its Skin Health and Beauty segment through greater focus and higher reinvestment. The unit’s sales fell 2% in 2024 despite a 20% hike in marketing spend and are down 4% at U.S. retail through mid-March, the analyst tells investors in a research note. However, Evercore believes the shares pose limited downside given Kenvue’s defensiveness and Starboard joining the board.