In a report released today, Bonnie Herzog from Wells Fargo maintained a Hold rating on Clorox (CLX), with a price target of $160. The company’s shares opened today at $166.13, close to its 52-week high of $167.70.
Herzog wrote:
“We are raising our price target by $15 to $160 to reflect a higher “flight to quality” premium multiple. That said, we see few near-term catalysts to drive valuation higher and simply put, if CLX shares are too expensive for management to repurchase shares, we see few reasons for investors to step up at this point. As such, we maintain our Market Perform rating.”
According to TipRanks.com, Herzog is a 4-star analyst with an average return of 8.3% and a 72.9% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, The Estée Lauder Companies Inc, and Constellation Brands Inc.
Clorox has an analyst consensus of Hold, with a price target consensus of $154, which is a -7.3% downside from current levels. In a report issued on November 30, Jefferies also maintained a Hold rating on the stock with a $141 price target.
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Clorox’s market cap is currently $20.7B and has a P/E ratio of 25.32. The company has a Price to Book ratio of 30.57.
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The Clorox Co. engages in the manufacture and marketing of consumer and institutional products. It operates through the following business segments: Cleaning, Lifestyle, Household, International, and Corporate. The Cleaning segment consists of laundry, home care, and professional products marketed and sold in the United States.
