Argus looking for more favorable entry point in Clorox

Argus keeps a Hold rating on Clorox while noting that the firm is looking for a more favorable entry point on the stock. The benefit from increased sales during the pandemic’s demand for cleansing products spiked has subsided, and inflation has put sales and margins under pressure, but the firm has a favorable view of the company’s IGNITE strategy, which aims to accelerate innovation in key areas of the business and integrate ESG priorities into decision-making, the analyst tells investors in a research note. If input prices moderate or demand for Clorox products accelerates, the firm would consider adding the stock to its Buy list, Argus added.