Kenvue upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank analyst Steve Powers upgraded Kenvue to Buy from Hold with an unchanged price target of $27. The analyst views the shares as oversold. While certain fundamental uncertainties and legal liability risks are still valid and outstanding, they are now more than adequately discounted in the stock’s current valuation, the analyst tells investors in a research note. The firm says the FDA on Friday declined to respond to the U.S. District Court for the Southern District of New York’s April 19 invitation to submit a “Statement of Interest” in the Acetaminophen case, which is a positive development for Kenvue.