Clorox price target raised to $160 from $150 at BofA

BofA raised the firm’s price target on Clorox to $160 from $150 and keeps a Neutral rating on the shares after Q2 results came in “well ahead of expectations” and the company noted that it sees the “vast majority” of inventory restored in Q2. Clorox updated guidance for FY24 and its raised outlook is nearly back to its initial FY24 guidance, notes the firm, which adds that volume growth “remains a question” as it expects Clorox to continue inventory restocking in Q3, but not fully regain distribution until Spring shelf resets.