Clorox Targets Raised to $115/$117 as Q2 EPS Falls, Revenue Tops Estimates
Clorox shares are down 19% year-over-year but up 18% year-to-date after Wells Fargo raised its target to $115 and JPMorgan to $117. It posted $1.39 EPS versus $1.43 estimates and $1.67 billion revenue versus $1.64 billion estimates in Q2, and its Purell acquisition may drive low double-digit sales growth.
1. Analyst Price Target Increases
Wells Fargo raised its price target on Clorox shares from $108 to $115 while maintaining an Equal Weight rating, and JPMorgan upped its target from $114 to $117 with a Neutral stance.
2. Q2 Earnings and Revenue
In the latest quarter, Clorox reported $1.39 in EPS versus $1.43 consensus estimates and delivered $1.67 billion in revenue against $1.64 billion forecasts.
3. Purell Acquisition Growth Potential
Clorox’s acquisition of the Purell hand sanitizer manufacturer is expected to drive low double-digit percentage growth in sales over the coming periods.
4. Share Performance and Commentary
Shares have fallen 19% year-over-year but rallied 18% year-to-date, with Jim Cramer highlighting the company’s consistent performance as a key strength.