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Why Goldman Sachs Downgraded Kimberly-Clark Stock

Adrian Stevens
Updated
Why Goldman Sachs Downgraded Kimberly-Clark Stock

On October 8, Goldman Sachs downgraded Kimberly-Clark (KMB) stock to “neutral” from “buy” and lowered the target price from $120 to $119 per share. Continued inflation in input cost and weakness in the personal care segment could restrict the growth for Kimberly-Clark. Also, the company’s current valuations don’t seem attractive. Kimberly-Clark stock trades at 17.2x the estimated 2018 EPS of $6.66 and 16.3x the estimated 2019 EPS of $6.99. Both these multiples look expensive based on the projected growth rate of 6.9% and 5.0% in those periods.

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