WD-40 at a near 1-1/2 year high on Q3 sales beat, two brokerages raise PT

WD-40 Co

11/07/2023 15:27

** Shares of homecleaning products maker WD-40 Company
 WDFC.O  jump as much as 16% to a near one-and-a-half year high
of $224.40
    ** On Monday co reported a 15% rise in Q3 sales, beating
Wall Street expectations
    ** Also announced 50 mln share buyback to replace expiring
plan
    ** Jefferies raises PT to $190 from $175, expects EBIT
margin expansion due to easing input costs, mix improvements and
cost recovery, as well as improved volumes    
    ** Brokerage DA Davidson raises PT to $232 from $228; sees
co benefiting from higher pricing and positive volumes after two
quarters of no growth
    ** Up to last close, stock had risen ~12% this year

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