UPDATE: Deutsche Bank Reiterates Hold on The Clorox Company Ahead of Earnings
Deutsche Bank reiterated its Hold rating and $73 price target on The Clorox Company (NYSE: CLX) as the company prepared to release earnings on Monday.
Deutsche Bank noted, "Pipeline fill and innovation driven volume growth, pricing tail and benign commodities should provide decent earnings flexibility and power to support innovation. Despite healthy dividend yield, decent cash generation and accelerating sales trends at this US-centric name, we remain on the sidelines on high relative valuation which is disconnected with the underlying sustainable growth potential of the business and category trends."
The Clorox Company closed at $79.16 on Friday.
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