Kimberly-Clark price target lowered to $134 from $136 at Goldman Sachs

Goldman Sachs analyst Jason English lowered the firm’s price target on Kimberly-Clark to $134 from $136 and keeps a Neutral rating on the shares. The company’s Q4 earnings fell modestly short of consensus estimates, though its performance for the year in aggregate was impressive as earnings grew 17% and gross margins recovering back near FY19 levels, the analyst tells investors in a research note. The company’s cost and gross margin outlook remains conservative, but its growth algorithm is pivoting to one that is more dependent on volume and mix, the firm added.