Bank of America reiterates Buy rating for Kimberly-Clark; Raises PT
According to a research report, Bank of America finds Kimberly-Clark (NYSE: KMB) business strategy to be undesirable in the market. The unique emerging markets business manages to be unseen despite desirable numbers.
Bank of America continued, “We are reiterating our Buy on KMB, and raising our 12m price objective to $84 from $80 following a stronger than expected Q1 result, which improved our confidence in the company's ability to drive above group average organic sales growth. Q1 outperformance was driven by 13% organic growth at KCI, which was ahead of the recent trends, seeming to catch the attention of the market.”
KMB closed Friday at $56.37. Bank of America raises its PO from $59 to $65.
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