Kimberly-Clark Stock Higher on Double Upgrade

BofA Global Research lifted its rating to “buy” from “underperform”

Kimberly-Clark Corp (NYSE:KMB) received a double-upgrade from BofA Global Research before the bell this morning. The firm raised its rating to “buy” from “underperform,” with a price-target hike to $160 from $115, citing margin expansion and increased market share. 

At last glance, KMB was up 2.5% to trade at $138.63. The 40-day moving average caught this week’s pullback, with the shares now nearing their late April peak. The equity is up more than 14% so far this year.

Over in the options pits, calls are running at triple the intraday average volume. The June 140 call is the most popular, with new positions opening at the weekly 6/14 140-strike call. 

Options are reasonably priced at the moment, too. KMB’s Schaeffer’s Volatility Index (SVI) of 13% ranks in the low 11th percentile of its annual range, pointing to low volatility expectations from traders. 

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