Barclays Starts Kenvue Inc (KVUE) at Equalweight

Barclays analyst Lauren Lieberman initiates coverage on Kenvue Inc (NYSE: KVUE) with a Equalweight rating and a price target of $23.00.

The analyst comments "Kenvue's two overarching categories – consumer health and beauty – are both structurally attractive, though for different reasons. Kenvue has generally been successful (at least from a top-line perspective) in leveraging the under-penetrated nature of its consumer health categories, especially with brands like Tylenol. But the playbook for success in beauty, which among other things calls for a steady innovation pipeline, strong marketing communication, and well delineated brand equities, is yet to manifest at this newly standalone company. We see moderate risk to Street estimates as we look into 2025, and while we appreciate the magnitude of reinvestment being made into the business and beauty in particular, we think the turnaround will prove extended. Initiate at Equal Weight with a $23 price target."

For an analyst ratings summary and ratings history on Kenvue Inc click here. For more ratings news on Kenvue Inc click here.

Shares of Kenvue Inc closed at $22.22 yesterday.

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