Kimberly Clark (KMB) PT Lowered to $145 but Jefferies Expects a Beat This Friday

Jefferies analyst Kevin Grundy lowered the price target on Kimberly Clark (NYSE: KMB) to $145.00 (from $156.00) but maintaining a Buy rating as he sees better than expected 1Q org sales and in-line EPS when KMB reports on Fri 4/22 BMO.

The analyst stated "KMB's product portfolio is defensive, demand elasticity (+) heretofore, and US data points (+). H/w, the more challenging cost envt./FX (thematic this earnings season) is likely to drive KMB to trim its FY22 EPS guide of $5.60-$6.00 (vs. JEF/Street $5.65/$5.79), which we believe is widely expected. At ~17.5x P/E, we stay Buy-rated, though shares tethered to GM % recovery. "

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