Goldman Sachs' initiation of coverage on Kenvue with a Neutral rating suggests that the stock is fairly valued at its current price. The announcement of a $29 price target indicates the analyst's expectation of limited upside potential in the short term. This news is relevant and important for investors in Kenvue, as it provides an expert opinion on the stock's valuation. The confidence in this analysis is high, as it is based on the opinion of a reputable analyst from a leading investment bank.