Wall Street analysts believe Kenvue sell-off is overdone

investing.com:

Kenvue (NYSE:KVUE) has received some positive commentary from analysts on Monday, with Deutsche Bank upgrading the stock and BofA telling investors it sees an attractive buy opportunity in the shares.

Deutsche Bank analysts raised KVUE to Buy from Hold, maintaining the $27 per share price target in a note.

The analysts stated that they see the stock as oversold, and while certain fundamental uncertainties and legal liability risks are still valid and outstanding, «they are now more than adequately discounted in current valuation.»

«Ultimately, KVUE is a high-quality company,» they declared.

At BofA, analysts said the stock's weakness based on the Tylenol risk «appears overdone.»

The analysts, who maintained a Buy rating and $30 price target on KVUE shares, expect to see a rebound following last week’s stock underperformance, which provides «a particularly attractive buying opportunity.»

KVUE shares are up 4% in early Monday trading.