Clorox (CLX) PT Lowered to $195 at Jefferies
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Jefferies analyst Kevin Grundy lowered the price target on Clorox (NYSE: CLX) to $195.00 (from $205.00) while maintaining a Hold rating.
The analyst comments "We trim our FY22-23 EPS ests. < 2% and maintain our Hold post CLX's 3Q. While CLX is managing reasonably well through the volatility and should benefit LT from shifts in consumer behavior, investor concerns are likely to linger re: difficult pandemic-related YoY comps, higher commodities, a more gradual pricing posture, and higher requisite spending (mkt share pressure). Shares likely to tread water near-term at 23.5x P/E (parity vs. HPC peers) - PT to $195."
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