Clorox upgraded to Buy at DA Davidson following 18% pullback

As previously reported, DA Davidson analyst Linda Bolton Weiser upgraded Clorox to Buy from Neutral with an unchanged price target of $152. Shares are down 18% since the company disclosed a “crippling cyberattack” on August 14, but on Friday they said all manufacturing sites are now operating, noted the analyst. The firm believes that when Clorox quantifies the financial impacts, uncertainty will be reduced and shares could rally and that sentiment should improve from here. The firm is cutting FY24 EPS estimates 15% and cutting FY25 EPS 10% as it is assuming some longer-term share impacts, though it believes these cuts are “to low enough levels.”