Barclays ‘rough math’ suggests Kenvue selloff overdone

Barclays analyst Lauren Lieberman says the rump administration on Monday outlined its views on the links between Tylenol and autism, a view contrary to the mainstream medical establishment. The firm’s “rough math” indicates Kenvue’s (KVUE) 17% selloff since September 4 is overdone, even in the “highly-unlikely scenario” that its U.S. acetaminophen business goes to zero. However, Barclays also recognizes “the fear of a legal overhang is real.” It estimates acetaminophen is 17% of Kenvue’s U.S. sales, mostly under the Tylenol brand name, and 7.5% of total company sales. The firm keeps an Equal Weight rating n Kenvue with a $20 price target