Kimberly-Clark price target raised to $152 from $145 at Piper Sandler

Piper Sandler raised the firm’s price target on Kimberly-Clark to $152 from $145 and keeps an Overweight rating on the shares. The firm continues to view Kimberly-Clark as an attractive investment, following the company’s investor day, in which management announced a new operating model and cost savings plan, as well as longer term growth targets ahead of expectations. Piper is being prudent as it updates its model and allows for these efforts to materialize, but even so, feels confident in Kimberly-Clark being able to deliver the about 3%+ annual top line growth and double digits annual returns management is pointing to. The firm views the meeting as a strong steppingstone in rebuilding investor confidence, and with shares only up about 1%, it sees a “nice buying opportunity.”