Kimberly-Clark price target lowered to $126 from $130 at Citi

Citi analyst Filippo Falorni lowered the firm’s price target on Kimberly-Clark to $126 from $130 and keeps a Sell rating on the shares. The company delivered solid Q2 results, but the stock closed down 3% as investors focused on an uncertain outlook in the second half of 2023 with Kimberly-Clark cycling the large price increases from last year, and not showing a clear path to volume growth without the risk of increasing promotional activity in its categories, the analyst tells investors in a research note. The firm continues to view the company’s geo-category exposures as more at risk versus peers.