Citi analyst Filippo Falorni opened a “90-day positive catalyst watch” on Kenvue ahead of the judge’s decision on the Daubert hearings on the Tylenol case, which the firm expects by early 2024. The analyst attended the Daubert hearing last week and believes the probability of the case being has increased. The ultimate decision is still uncertain, but Citi sees more upside potential in the $23-$24 per share range versus downside risk in the $18-1$9 range, the analyst tells investors in a research note.
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