UPDATE: Deutsche Bank Raises PT on Kimberly Clark on Full Valuation
In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Kimberly Clark Corp. (NYSE: KMB), and raised the price target from $96.00 to $101.00.
In the report, Poole noted, “With low beta, resilient fundamentals and what used to be a high dividend yield, Kimberly has benefitted as one of the first stops for investors looking for low beta, enhanced yield bond surrogates, in our view, driving the multiple higher. Moreover, benign commodities and good emerging markets growth have preserved earnings algorithm, at least for the time being. Still, it seems most of the good news is priced in and even with lower discount rate, shares are fully valued at these levels.”
Kimberly Clark Corp. closed on Friday at $106.10.
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