Jefferies Downgrades Kenvue Inc (KVUE) to Hold

Jefferies analyst Keith Devas downgraded Kenvue Inc (NYSE: KVUE) from Buy to Hold with a price target of $18.00 (from $23.00).

The analyst comments: "Kimberly and Kenvue shareholders voted in favor of the deal, clearing a hurdle for the merger to close (likely 4Q). Litigation uncertainty and slowing Kenvue trends are risks that Kimberly mgmt appears comfortable with, focusing on the long-term turnaround opportunity of several well-known brands that have trailed their categories. With KVUE shares close to implied offer value of ~$18/sh, upside is limited. Downgrade to Hold, remove from Franchise Pick list."

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 $17.20 yesterday.

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