Wells Fargo analyst Chris Carey lowered the firm’s price target on Clorox to $140 from $150 and keeps an Underweight rating on the shares. The firm notes Clorox “significantly escalated” its commentary on previously disclosed cyber attacks, now seeing a “material” impact to Q1, with lack of clarity on long-term impact of timing of full recovery. Management took mitigation steps, but ops continue to run at reduced rates. Wells believes rising inflation/less flex in SG&A could also prove pressure points to Clorox EPS this fiscal year.
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