Citi ups Clorox target to $165, opens ‘positive catalyst watch’

Citi raised the firm’s price target on Clorox to $165 from $145 and keeps a Neutral rating on the shares. The analyst also opened a “90-day positive catalyst watch” on the shares. The firm cites the upcoming cycling of the cyberattack at the end of August for the positive short-term view. Clorox will start cycling the negative impacts of the cyberattack in next week’s Nielsen scanner data release on September 3 in the last week of released data, and comparisons will get incrementally easier in the following releases, the analyst tells investors in a research note. Citi also sees a favorable set-up into the fiscal Q1 earnings report.