Deutsche Bank (DB) lifted its price target on Clorox Co. (NYSE:CLX) to $72 from $67, while maintaining its "hold" rating on the stock.
With activist out and commodities moderating, Clorox can now focus on what it does best – innovating in niche US categories to boost shares, increase margins and drive cash flow, returning it to investors via share repo and dividend boosts, the bank wrote in a note.
However, US categories remain sluggish and relative valuation is somewhat stretched, DB added.
Oakland, California-based Clorox is a manufacturer of consumer and institutional products worldwide. The company operates in four segments: Cleaning, Lifestyle, Household, and International.
CLX shares, which have been trading between $63.05 and $75.44 over the past year, is down 0.36% to $69.60.