Credit Suisse to the sidelines on Clorox

Credit Suisse drops Clorox (NYSE:CLX) to a Neutral rating from Outperform on a call tied to valuation.

“About 1/3rd of Clorox’s sales come from cleaning products including disinfecting wipes, bleach, bathroom & multi-purpose cleaners. Clorox is share leader in these categories. This is positive for the company today and into F21-22, but we think CLX shares are fairly valued,” notes the firm.

CS assigns a price target of $172 to Clorox vs. the average sell-side PT of $162.94. Clorox hits a hit of $214.26 earlier in the week. Shares are up 2.15% in the premarket session.

https://seekingalpha.com/news/3553307-credit-suisse-to-sidelines-on-clorox