Clorox price target raised to $140 from $129 at UBS

UBS analyst Peter Grom raised the firm’s price target on Clorox to $140 from $129 but keeps a Sell rating on the shares. The company’s Q2 results and guidance were certainly better than expected against the backdrop of mixed performance by its peers, the analyst tells investors in a research note. The firm adds however that despite the underlying momentum trending in the right direction for Clorox, the stock still trades at 27-times its forward earnings estimate, and a more attractive entry point is needed before it can turn more constructive.