Kenvue's Growth Forecast: Exploring The Future Of Johnson & Johnson's Carve-Out
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Nik Modi initiated coverage on Kenvue Inc (NYSE:KVUE) with an Outperform rating and a price target of $29. Kenvue is Johnson & Johnson's (NYSE:JNJ) consumer-healthcare business carve-out. The analyst is bullish on Kenvue's strong portfolio of iconic brands and expects organic sales growth in mid-single-digits in the near term.
May 30, 2023 | 5:57 pm
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NEUTRAL IMPACT
Kenvue, Johnson & Johnson's consumer-healthcare business carve-out, received an Outperform rating from RBC Capital Markets analyst Nik Modi. The analyst needs clarity on the timing of probable Kenvue's shares divestiture by Johnson & Johnson.
The analyst's initiation of coverage on Kenvue with an Outperform rating is positive for Johnson & Johnson, but the need for clarity on the timing of probable Kenvue's shares divestiture by Johnson & Johnson makes the short-term impact on JNJ's stock price neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
RBC Capital Markets analyst Nik Modi initiated coverage on Kenvue with an Outperform rating and a price target of $29, citing strong portfolio of iconic brands and expected organic sales growth.
The analyst's bullish outlook on Kenvue's strong portfolio of iconic brands and expected organic sales growth in mid-single-digits in the near term is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100