Kimberly-Clark Corporation ( NYSE: KMB ) gained a new bull on Wednesday as Atlantic Equities analyst Edward Lewis upgraded the stock to an “Overweight” rating from Neutral.
He cited the defensive nature of the name as a key driver of the upgrade, adding to positive dynamics for the company itself.
“Kimberly-Clark offers leading exposure to highly defensive consumer categories (baby, feminine and adult care) supporting a resilient top line performance as well as leverage to improving margins as cost pressures ease,” Lewis explained.
Shares of the Wisconsin-based consumer products producer rose 1.77% early in Wednesday’s trading session, gaining alongside many consumer staple stocks on the day. Peers Procter & Gamble ( PG ) +0.94% , Church & Dwight ( CHD ) +0.9% , and Colgate Palmolive ( CL ) +0.81% also moved upward amid a defensive tilt to investor appetites.
Elsewhere, consumer staple stocks in the beverage industry gained sharply after strong results from Pepsi .
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Kimberly-Clark shares carry higher after upgrade from Atlantic Equities