Kenvue upgraded to Buy from Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn analyst Edward Lewis upgraded Kenvue (KVUE) to Buy from Neutral with a price target of $22, down from $22.50. The shares are down over 20% this month with the Trump administering linking usage of Tylenol by expectant mothers with an increased risk of autism in infants, the analyst tells investors in a research note. However, the firm views proposals laid out this week by the Health and Human Services department as “more measured than feared.” Kenvue’s discount to Rothschild’s sum-of-the-parts has widened to over 40%, while the company’s board is undertaking a strategic review, the firm points out. It now sees a “clear path to value creation.”