Kimberly-Clark price target raised to $134 from $132 at Goldman Sachs

Goldman Sachs analyst Jason English raised the firm’s price target on Kimberly-Clark to $134 from $132 and keeps a Neutral rating on the shares. The company delivered a strong Q3 earnings beat with sizable gross margin expansion reinvested back into SG&A, and the beat should lead Kimberly-Clark to close the year on strong footing, with continued margin expansion, the analyst tells investors in a research note. Goldman Sachs adds that the potential for volume growth, accompanied with ongoing gross margin expansion, is attractive in context of its broader Staples coverage, though it also sees the stock as “prudently priced”.