Clorox price target raised to $170 from $145 at UBS

UBS analyst Peter Grom raised the firm’s price target on Clorox to $170 from $145 and keeps a Neutral rating on the shares. Clorox’s quarter far surpassed even some of the more bullish expectations we heard entering the day with a beat on organic growth and EPS as retailer inventory recovery in the wake of the cybersecurity incident progressed far more rapidly than expected, the analyst tells investors in a research note. The firm believes revised guidance is “quite conservative,” and while it is encouraged by the top and bottom line momentum and continues to see upside to guidance, UBS believes greater visibility on the return to organic revenue growth in the 3%-5% range is needed in order become constructive.