Tylenol Maker Kenvue Goes From Sure Bet to Question Mark After Year’s Biggest IPO
- Most analysts covering company advise against buying the stock
- Shares are down about 9% since a post-spinoff high last month
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Kenvue Inc. looked like a winner following its May spinoff from Johnson & Johnson in the year’s biggest IPO. But just a few weeks after the stock’s initial surge, Wall Street is urging investors to avoid the shares.
Eight of the 11 analysts that cover the consumer health company advise clients against buying shares, an anomaly on the Street, which is in the business of selling stock by focusing on what’s seen as an appropriate valuation.