Clorox price target lowered to $135 from $140 at Wells Fargo

Wells Fargo lowered the firm’s price target on Clorox to $135 from $140 and keeps an Underweight rating on the shares. The firm notes Clorox quantified the cyber-attack impact to Q1 2024, previously flagged as likely “material.” The hit is meaningful to sales but also margins. Slope of recovery is the clear opportunity here, but also the key risk, with visibility low, Wells argues.