UPDATE: Morgan Stanley Downgrades Clorox on EPS Risk, Muted Long-Term Growth
In a report published Thursday, Morgan Stanley analyst Dara Mohsenian downgraded the rating on The Clorox Co. (NYSE: CLX) from Equal-Weight to Underweight, but named an $83.00 price target.
In the report, Morgan Stanley noted, “We are downgrading CLX to UW. Slowing US consumer spending and heightened competitive pressure create near-term EPS risk that we think is not reflected in valuation, particularly as CLX's LT EPS growth potential is more muted than peers'.”
The Clorox Co. closed on Wednesday at $85.68.
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