BofA analyst Anna Lizzul lowered the firm’s price target on Kimberly-Clark to $138 from $145 and keeps a Neutral rating on the shares. Q2 beat on the top line and the firm is raising estimates above the updated 2023 guidance range, but the beat and raise were “not enough to satisfy” the market, the analyst tells investors. The firm’s target now reflects a 19-times multiple, down from 20.5-times previously, on its calendar 2024 EPS estimate as the stock has re-rated toward its historical multiple of 18-times, the analyst noted.
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Read More on KMB:
- Kimberly-Clark price target lowered to $126 from $130 at Citi
- Kimberly-Clark Announces Second Quarter 2023 Results
- Kimberly-Clark reports Q2 adjusted gross margin 34%, up 380 bps y/y
- Kimberly-Clark raises FY23 EPS growth view to 10%-14% from 6%-10%
- Kimberly-Clark reports Q2 adjusted EPS $1.65, consensus $1.48