Wells Fargo lowered the firm’s price target on Kimberly-Clark to (KMB) $110 from $129 and keeps an Equal Weight 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.
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Read More on KMB:
- Kimberly-Clark price target lowered to $110 from $129 at Wells Fargo
- 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
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