Kimberly-Clark upgraded to Market Perform from Underperform at Bernstein

Bernstein upgraded Kimberly-Clark to Market Perform from Underperform with a price target of $118, down from $125. Over the past few months, the relative premium of staples versus the market has “rapidly unwound,” the analyst tells investors in a research note. As such, the firm thinks the risk/reward for the group looks less negative than it has over most of the past few years. Bernstein upgraded Kimberly-Clark as it struggles “to justify significant incremental downside” from here.