Clorox (CLX) Reports Better Than Feared Against Tough Comps, RBC Capital Reiterates Sector Perform

November 2, 2021 6:34 AM EDT
Get Alerts CLX Hot Sheet
Price: $150.68 +0.55%

Rating Summary:
    4 Buy, 9 Hold, 10 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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RBC Capital analyst Nik Modi reiterated a Sector Perform rating and $176.00 price target on Clorox (NYSE: CLX) after the company reported total company organic sales down only 5% against tough comps. This represents a 400 bps acceleration since June.

The analyst stated "Incremental pricing actions will help offset additional cost pressures, which now assume a near-term resin peak before moderation in the second half of the fiscal year. We adjust our FY’22 organic growth expectation to -2% (from -4.2%) and EPS estimate to $5.43 (from $5.39), reflecting volume momentum and additional pricing, partially offset by near-term margin pressure".

For an analyst ratings summary and ratings history on Clorox click here. For more ratings news on Clorox click here.

Shares of Clorox closed at $163.40 yesterday.

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