5 Cheap Stocks to Buy Under $20

2. Kenvue Inc. (NYSE:KVUE)

Kenvue Inc. (NYSE:KVUE) is one of the best cheap stocks to buy under $20. Citi cut the price target on Kenvue Inc. (NYSE:KVUE) to $19 from $20 on April 15, maintaining a Neutral rating on the shares and adjusting targets in the beverages, household, and personal care group as part of a fiscal Q1 preview. The firm told investors in a research note that investor focus is likely to be on the sector’s margin risk amid higher oil prices and many commodities.

In another development, Barclays also cut the price target on Kenvue Inc. (NYSE:KVUE) to $18 from $19 on April 14, maintaining an Equal Weight rating on the shares. The rating update came as part of the firm adjusting targets in the consumer staples group in a fiscal Q1 preview, with Barclays telling investors in a research note that it has “growing caution” on the group into the prints because of higher input costs. It also stated that in food, there are now “building concerns” around the sustainability of the dividend for certain companies.

Kenvue Inc. (NYSE:KVUE) is a consumer health company that operates through three segments: Skin Health and Beauty, Self Care, and Essential Health. Its Skin Health and Beauty segment offers hair care, body care, face care, and other product categories. The Essential Health segment comprises baby care, women’s health, oral care, and more.