Kimberly Clark (KMB) PT Raised to $187 as Jefferies Sees Upside From Tissue

Jefferies analyst Kevin Grundy raised the price target on Kimberly Clark (NYSE: KMB) to $187.00 (from $181.00) on the belief that the company will raise its '20 guide ($7.40-$7.60) to $7.80 (Street Consensus is $7.70). The expected upside comes from strength in Tissue (retailer inventory restock), commodities, and productivity drivers of upside.

The analyst reiterated the Buy rating, stating " We f-cast > 3.5% organic sales growth (vs Street < 2%) w/particular strength in consumer tissue. While mgmt noted a recent broker conf. that demand was starting to "normalize across DMs," it expects to see long-term tailwinds in the segment as consumers spend more time at home and near-term tailwinds as retailers carry higher inventory to meet increased demand. We see upside to Street EPS ests."

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