Clorox upgraded to Buy from Hold at Jefferies

Jefferies upgraded Clorox to Buy from Hold with a price target of $187, up from $174. The company’s “hasn’t been itself lately,” but Jefferies sees this changing, the analyst tells investors in a research note. The firm expects Clorox to return to its past, delivering “peer-leading” economic profit growth and rerun on capital. History, this has been met with a 30% premium valuation to peers, contends Jefferies. The firm says the company’s sales growth is already improving and operating leverage “is in sight.”