Citi analyst Filippo Falorni says shares of Kenvue (KVUE) have been pressured by litigation and regulatory concerns stemming from a Tylenol class-action lawsuit alleging a causal link between acetaminophen use during pregnancy and neurological impacts to the child, and worries that certain Kenvue products could be pulled from shelves following an FDA panel vote challenging the effectiveness of a popular decongestant ingredient found in leading medications. However, the firm believes the concerns are overblown in both cases and continues to see upside to Kenvue shares on expected tailwinds from the J&J Johnson (JNJ) split-off transaction. Citi views the stock’s near-term setup as attractive and keeps a Neutral rating on the shares with a $26 price target.
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