Kenvue Opens Clogged IPO Pipeline as Peers Keep Beating Market
- Haleon, Reckitt outperform before J&J consumer health spinoff
- Traders may take profits and invest in Kenvue, says Roth MKM
Photographer: George Frey/Bloomberg
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Kenvue Inc. is serving as a spearhead to reopen the US IPO market as gains by its publicly traded peers show that the company can buck the macro headwinds holding back other potential listings.
The stocks seen as most similar to Johnson & Johnson’s consumer health unit, which is expected to debut May 5, have been outperforming the S&P 500 Index during the barrage of volatility events this past year that have kept the market for initial public offerings mostly shut.