Kenvue shares are trading lower after Bernstein initiated coverage on the stock with an Underperform rating and a price target of $18.
Portfolio Pulse from Benzinga Newsdesk
Kenvue shares are trading lower following Bernstein's initiation of coverage with an Underperform rating and a price target of $18.

April 11, 2024 | 11:11 am
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Kenvue's stock price is trading lower after Bernstein initiated coverage with an Underperform rating and a price target of $18.
Analyst ratings, especially from reputable firms like Bernstein, can significantly influence investor sentiment and stock prices. An Underperform rating suggests that the analyst believes the stock will not perform as well as the overall market, leading to potential selling pressure. The setting of a price target of $18, depending on the current price, may further indicate a bearish outlook, contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100