Market Overview

UPDATE: Credit Suisse Downgrades The Clorox Co. to Neutral on Limited Further Upside

Related CLX
Earnings Recap For February 4
Earnings Scheduled For February 4, 2016
The Most Undervalued And Overvalued Dividend Champions - February 2016 (Seeking Alpha)

In a report published Wednesday, Credit Suisse analyst Michael Steib downgraded the rating on The Clorox Co. (NYSE: CLX) from Outperform to Neutral, but reiterated the $87.00 price target.

In the report, Steib noted, “We slightly lower our FY13-14 EPS estimates to $4.32/$4.63/$5.04 (from $4.35/$4.69/$5.05) and essentially view the stock as fairly valued for now. Due to its defensive profile, strong execution and attractive dividend yield, CLX shares have strongly outperformed during the past 6 months. Although we continue to believe that EPS growth will accelerate sequentially in FY14, we think that this is now better understood and reflected in both valuation and consensus expectations. The company continues to execute well as organic growth trends remain challenging, due to the ongoing weak consumer environment and competitive dynamics from private label. While we are comfortable with our 3-4% longer-term LFL sales growth estimate, we think surprises to the upside are unlikely going forward for the time being.”

The Clorox Co. closed on Tuesday at $88.11.

Latest Ratings for CLX

Feb 2016B. RileyMaintainsNeutral
Feb 2016UBSMaintainsSell
Nov 2015B. RileyMaintainsNeutral

View More Analyst Ratings for CLX
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Analyst Ratings


Related Articles (CLX)

Get Benzinga's Newsletters