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published in Blogs
May 03, 2021
Clorox (CLX, $180.95) stock gets double-downgrade from Wells Fargo

Clorox (CLX, $180.95) stock gets double-downgrade from Wells Fargo

Shares of Clorox  fell Monday, following a double- downgrade by analysts at Wells Fargo.

Wells Fargo analysts lowered their rating on the consumer goods’ company’s shares to underweight from overweight. They also slashed price target to $170 a share from $240.  Analyst Chris Carey called Clorox shares "dead money, at best, with downside."  

According to Wells Fargo analysts, Clorox sales in the professional and international segments ( "new growth drivers") missed estimates – something that makes it hard to argue for 'underappreciated' upside, as indicated by the analysts.

 

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