Clorox gains as Jefferies upgrades to 'buy', raises PT

The Clorox

01/10/2024 14:05

**  Shares of bleach maker Clorox  CLX.N  up 1.3% at $165.09
premarket
    ** Jefferies lifts rating on stock to "buy" from "hold"
    ** Raises PT from $174 to a Street high of $187, a 14.8%
upside to last close 
    ** "... we expect Clorox to return to its past, a company
delivering peer-leading economic profit growth and return on
capital," Jefferies analyst Kaumil Gajrawala writes
    ** On track to fully restore U.S. revenues in FY25 while
improving its portfolio mix and should benefit from
implementation of new enterprise resource planning systems -
brokerage  
    ** Four of 23 brokerages rate the stock "buy" or higher, 13
"hold" and 6 "sell" or lower; their median PT is $152.50
    ** As of last close, CLX up 14% YTD

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))