Clorox price target raised to $162 from $148 at UBS

UBS analyst Peter Grom raised the firm’s price target on Clorox to $162 from $148 and keeps a Sell rating on the shares. Clorox’s Q3 EPS was ahead of Street expectations, driven by better-than-expected organic sales growth and gross margin expansion, and while Street numbers for Q4 may need to move lower, the firm expects this to be viewed conservatively, the analyst tells investors in a research note. Top and bottom line momentum is trending in the right direction, the firm contends.