J.P. Morgan Rates Kimberly-Clark Neutral

According to J.P. Morgan, Kimberly-Clark KMB posted Q211 EPS of $1.18, which was ahead of both the estimate of $1.13 and Bloomberg consensus of $1.14. J.P. Morgan said that the primary driver of upside vs. its forecast came from slightly better than anticipated top line, lower marketing, research, and general expense, and a lower share count. “KMB also reiterated their FY11 EPS guidance, but highlighted that the lower half of the range is more likely, which is not a major surprise as consensus is already there. We continue to rate KMB Neutral as we believe the stock already reflects the current operating environment.” Kimberly-Clark closed yesterday at $66.48.