Clorox (CLX) PT Raised to $90 at Wells Fargo

Wells Fargo analyst Chris Carey raised the price target on Clorox (NYSE: CLX) to $90.00 (from $85.00) while maintaining a Equal Weight rating.

The analyst comments "CLX continues to see EPS within its prior range, albeit now the lower end, implying profit growth ramps in 2H, esp vs FQ227 which is implied to be a challenging qtr. This profit ramp feels like a key debate after today, namely with a new CEO by FQ2. Holding to FY27 despite pressure. CLX is sticking to its prior guidance range despite worsening inflation, now calling for EPS at the lower end, partly helped by lower SG&A spending vs prior outlook (detail herein). Our general view is the model will now feel more stressed than our go-in base case (which was for a guidance reduction allowing more breathing room), with improvement in organic sales, higher GM and lower S&A now factored for 2H (vs FQ227 which looks like a tough quarter)."

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