UPDATE: Citi Upgrades Clorox; Raises PT

According to a research report published this morning, Citi has upgraded The Clorox Company

from Neutral to Buy, and raised PT from $72 to $78. Citi said in the report, "Over the last year, it seems to us as if CLX has become more confident in its business—and today's analyst meeting revealed to us a mgmt team that seemed (i) happy with their current portfolio, (ii) satisfied with their solid execution over the last several quarters and (iii) genuinely excited about their prospects to deliver even stronger shareholder returns over the next several years." Clorox closed yesterday at $68.98.