Clorox price target raised to $185 from $165 at Raymond James

Raymond James raised the firm’s price target on Clorox to $185 from $165 and keeps an Outperform rating on the shares. Clorox reported a material Q3 beat, with y/y organic sales growth driving the beat, the analyst tells investors in a research note. Clorox is showing its turnaround ability as it continues to recoup lost margin, is maintaining better than expected demand despite incremental pricing in December, and is deploying a portion of the gross margin beat into advertising support, the firm contends.