Wells Fargo lowered the firm’s price target on Kimberly-Clark (KMB) to $110 from $129 and keeps an Overweight rating on the shares. The firm notes the company intends to acquire Kenvue (KVUE) in a stock and cash deal valued at $48.7B. Kimberly-Clark’s stock reaction was historically negative, reflecting a material change in the investment case, risks associated with Kenvue, and needed execution on big synergy targets.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KMB:
- Kimberly-Clark’s Acquisition of Kenvue: Balancing Strategic Potential with Execution Risks and Market Concerns
- Kimberly-Clark downgraded to In Line from Outperform at Evercore ISI
- Others may be interested in Kenvue if visibility improves, says Jefferies
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories!
- Midday Fly By: AWS in deal with OpenAI, Kimberly-Clark to buy Kenvue