On October 4, 2023, JP Morgan analyst Andrea Teixeira made a unique update on Kenvue (NYSE:KVUE). Teixeira maintained an Overweight rating on the stock but lowered the price target from $29 to $26. Kenvue, a spinout of Johnson & Johnson (JNJ), had previously received an overweight rating from JP Morgan in May 2023.
MarketBeat, a reliable source, reported that Kenvue has garnered a consensus rating of Moderate Buy. This rating is based on 8 buy ratings, 5 hold ratings, and no sell ratings. It’s worth noting that Kenvue recently went public in May 2023, with each share priced at $22. The stock was indicated to open nearly 14% above its offer price on the New York Stock Exchange, indicating strong market interest.
Following the completion of the IPO, Johnson & Johnson will retain ownership of 1,716,160,000 shares of Kenvue’s common stock, representing a significant 90.9% of the total. This demonstrates Johnson & Johnson’s continued involvement and support for Kenvue.
In July 2023, JP Morgan maintained coverage of Johnson & Johnson, but with a Neutral recommendation. This suggests that JP Morgan sees potential for Johnson & Johnson but is not overly bullish on the stock at the moment.
https://beststocks.com/jp-morgan-analyst-updates-kenvue-rating-and-p/
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