Wed Sep 25 07:37:08 UTC 2024: ## Kenvue (KVUE) Stock Rating Cut by Royal Bank of Canada, Analysts Remain Divided

**New York, NY** – Royal Bank of Canada downgraded Kenvue (NYSE:KVUE) from an “Outperform” rating to “Sector Perform” on Tuesday, citing [reason for downgrade not mentioned in the provided text]. The bank also set a price target of $24.00 for the stock.

Despite this downgrade, other analysts remain more optimistic about Kenvue. JPMorgan Chase & Co. raised their target price from $22.00 to $24.00 and maintained an “Overweight” rating, while Deutsche Bank Aktiengesellschaft boosted their price target to $24.00 and assigned a “Buy” rating.

Kenvue recently exceeded analysts’ expectations for their second-quarter earnings, reporting earnings per share of $0.32 compared to the consensus estimate of $0.28. Revenue for the quarter reached $4 billion, slightly above the projected $3.93 billion.

However, the company’s revenue declined by 0.3% year-over-year.

Kenvue also announced a quarterly dividend of $0.205, representing a $0.82 annualized dividend and a yield of 3.55%.

Overall, Kenvue’s stock currently holds an “Hold” rating with an average target price of $22.10. The stock’s performance remains a subject of debate among analysts, with a mix of positive and cautious outlooks. Investors will likely be watching closely to see how Kenvue navigates the current market conditions.

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