KMB - From Caution To Consideration: Why Analyst Is More Optimistic On Kimberly-Clark And Clorox Now | Benzinga
Bernstein analyst Callum Elliott upgraded the rating on the shares of Kimberly-Clark Corporation (NYSE: KMB) and Clorox Company (NYSE: CLX) to Market-perform from Underperform.
At the start of the year, the analyst had urged caution towards the Consumer Staples sector despite the benign fundamental outlook. However, the analyst said, over the past few months, the relative premium of Staples versus the market has rapidly unwound.
In the analyst’s view, the relative de-rating was both necessary, given the egregious starting valuations and fully merited by the upwards move in interest rates.
However, it has left Staples trading broadly-in line with the market as a whole, comfortably below their ...