UPDATE: Argus Downgrades KMB
Argus on Monday downgraded Kimberly-Clak (NYSE: KMB) from Buy to Hold citing a concern in forex headwinds and valuation.
Argus analyst John Staszak expects the company to face pressure from "unfavorable currency effects and higher commodity costs in the
Staszak notes KMB shares have risen seven percent year-to-date and are trading at 17.8-times 2014 EPS estimate, but sees limited additional upside in the near term.
Stating that the current share price reflects new product development efforts, undervalued international business and strong growth prospects in emerging markets gives KMB a good value.
KMB shares opened at $109.96, down from Friday's close of $111.06, and were last trading at $110.24 in Monday's session.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.