Kimberly-Clark rebounds as analyst cites $120 upside target

According to CNBC, Jay Woods of Chase Games said Kimberly-Clark is showing signs of a technical rebound and could offer a favorable risk-reward setup after lagging the broader market in recent years. He pointed to the scheduled closing of the $48.7 billion Kenvue deal, which would add Tylenol, Neutrogena and Listerine and could create cost-synergy potential, and said the stock has held above its 50-day and 200-day moving averages and may be close to a golden cross. Woods set downside risk at $95, an initial upside target at $120, and said a move above that level could open the way toward $150.