JPMorgan lowered the firm’s price target on Kenvue to $26 from $29 and keeps an Overweight rating on the shares. The analyst says Kenvue is a “newly carved and high-quality” large cap staples stock that became “quite binary for reasons that are beyond the company’s control.” The firm sees an “asymmetric risk/reward” to the upside, saying the company’s strategies will limit tail risk on Acetaminophen.
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