Deutsche Bank Research analyst Steve Powers upgraded Kenvue to Buy from Hold over the weekend.
Kenvue shares have fallen recently as investors have become concerned about the company’s exposure to lawsuits over its pain reliever Tylenol.
Kenvue , which was recently spun off from Johnson & Johnson , faces lawsuits claiming Tylenol caused neurological disorders in children whose mothers took the medication while pregnant. They say the company is at fault for not including a warning about the possible risks on the bottle’s label. The stock was down 2.7% in August, and J.P. Morgan analyst Andrea Teixeira said in a Friday note the decline provides a buying opportunity. Teixeira rates the stock as Overweight with a $29 price target.
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