UPDATE: Credit Suisse Reiterates On The Clorox Co As FY15 Is Off To Good Start

In a report published Monday, Credit Suisse analyst Michael Steib reiterated an Underperform rating on

, and raised the price target from $84.00 to $90.00. In the report, Credit Suisse noted, “CLX delivered a good start to FY15 with 2.5% organic revenue growth. EPS was also slightly ahead. FY guidance was reiterated although CLX now expect flat margins (previously +25-50bps) due to Venezuela being moved to discontinued items and somewhat higher input costs. We expect the company to deliver in line with this outlook this fiscal year, but with the stock trading at a long-term high valuation we think the stock's multiple has some downside risk from the current levels. We increase our target price to $90.” The Clorox Co closed on Friday at $99.50.