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Clorox price target raised to $160 from $145 at Wells Fargo.

Wells Fargo analyst Bonnie Lee Herzog raised her price target for Clorox to $160 from $145 to reflect a higher ''flight to quality'' premium multiple after the company hosted a meeting for sell side analysts. The analyst notes that management's tone was positive and she came away with a better appreciation of Clorox's solid execution as it appears to be controlling what it can control by aggressively leading with pricing, leaning into cost savings, and delivering a strong F2H innovation slate. Nonetheless, Herzog reiterates a Market Perform rating on the shares as she sees few near-term catalysts to drive valuation higher.

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Publication:The Fly
Date:Dec 12, 2018
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