Buckingham Research Upgrades Kimberly-Clark (KMB) to Neutral, Remains Unimpressed with KMB's History of EPS Growth
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Buckingham Research upgrades Kimberly-Clark (NYSE: KMB) from Underperform to Neutral. Price target $60.
Buckingham analyst says, "With oil prices down about $20 since our July 15 initiation, we are less concerned about further EPS disappointments for KMB for 2008 and 2009 than we were...We remain unimpressed with KMB’s history of EPS growth rates averaging only 5-6% for trailing 5 and 10 years. KMB keeps gaining share in diapers and training pants, but losing it in bath tissue and paper towels. We value KMB at a 25% discount to PG and CL, which on 2009 estimates today puts the stock at $60. Since our initiation, KMB stock is up 4% but has lagged its major multinational peers, with PG up 10%, CL up 11% and AVP up 22%."
Kimberly-Clark Corporation is a global health and hygiene company.
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