11:20 AM EDT, 06/13/2024 (MT Newswires) -- Kimberly-Clark ( KMB ) is poised to see room to "premiumize" as the China market remains an opportunity and it may see the beginning of a longer-term "improvement" taking place on par with its initiatives because of volume inflection in Q1, BofA Securities said in a note Thursday.

The company anticipates achieving "at least" 40% in gross margins by 2030 due to gross expenses reduction, SG&A savings, and supply chain enhancements, analyst Anna Lizzul wrote.

Kimberly-Clark ( KMB ) will continue to "innovate to grow at or above market in key categories," the analyst said, adding that the company will raise its market share after a "challenging" last year.

BofA Securities upgraded Kimberly-Clark ( KMB ) to buy from underperform and raised its price target to $160 from $115.

Shares of the company were up 2.7% in recent Thursday trading.

Price: 138.83, Change: +3.64, Percent Change: +2.69