03:08 PM EDT, 07/19/2024 (MT Newswires) -- Kimberly-Clark ( KMB ) Q2 results are likely to meet market expectations, with an upside potential in personal care business against consensus offsetting a downside risk in consumer tissue, RBC Capital Markets said in an earnings preview.

"KMB will be in line this quarter as scanner data for the US does not set off any alarms (volumes are improving sequentially) and the company seemed confident in its new strategy," the report said. "We are believers in KMB's new strategy."

While the firm experienced high levels of volatility in the last few years, it invested in and built several capabilities that it did not possess coming into this decade such as revenue growth management, global procurement and automation, RBC said.

"We believe KMB is at the precipice of more dependable growth that should warrant a higher multiple," the report said.

The Q2 results are due July 23. RBC reiterated its outperform rating on the stock with a price target of $165.

Price: 143.79, Change: -0.28, Percent Change: -0.19