Kenvue is well-positioned for accelerated growth following its separation from parent company Johnson & Johnson, according to JPMorgan. Following its spinoff earlier in May, Kenvue is the largest pure-play consumer health company in the world. The company holds commonly-known brands such as Neutrogena, Tylenol, Aveeno and Zyrtec — amounting to 10 brands with sales greater than $400 million. Kenvue also has over 37 regional brands. Analyst Andrea Teixeira initiated coverage on the stock with an overweight rating. her price target of $29 implies 10.26% upside from the previous close. “As a stand-alone company, we believe Kenvue board and management will be more focused and accountable for the growth and profitability of the business following the separation that began in 2019, with significant opportunities to scale in many adjacencies and markets around the world organically and through tuck-in M & A,” Texeira wrote in a Monday note. “We view KVUE as uniquely positioned to benefit from consumer mega trends (self-care, aging).” Teixeira added that Kenvue still is “U.S.-centric,” giving it room to regain share and “lift and shift” some of its brands in overseas markets. JPMorgan thinks Kenvue is still trading at an attractive valuation despite jumping since its May 3 IPO, which was priced at $22 per share. Shares were at $26.30 through Friday’s close. “As KVUE builds its track record as a public company (if our estimates for solid quarters ahead materialize) and post-potential distribution of shares that JNJ owns to current JNJ shareholders, we believe KVUE should trade with the major-league high-quality multinationals that have defensive sales, compounding growth, and solid free cash flow conversion,” said Teixeira. —CNBC’s Michael Bloom contributed to this report.