Canaccord Genuity Reiterates a Buy Rating on Kenvue Inc. (KVUE)

Kenvue Inc. (NYSE:KVUE) is one of the best affordable stocks to buy under $20. Canaccord Genuity analyst Susan Anderson reiterated a Buy rating on Kenvue Inc. (NYSE:KVUE) on October 17, setting a $26 price target.

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Anderson supported the rating with the company’s market position and current legal challenges, stating that she believes that the judge-led legal system may work in the company’s favor despite the recent news about talc lawsuit liabilities in the UK. According to her, a judge-led rather than jury-led system is likely to lead to lower financial liabilities compared to the US, where jury awards can be considerably higher.

The analyst further stated that Kenvue Inc. (NYSE:KVUE) is anticipated to vigorously contest the lawsuit, leveraging scientific data to support the safety of its talc-based products.

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. The company’s global footprint spans more than 165 countries across its four regions.

While we acknowledge the potential of KVUE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KVUE and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.