JPMorgan analyst Andrea Teixeira upgraded Clorox to Neutral from Underweight with a price target of $145, up from $124. The analyst now thinks there is significant upside risk to consensus estimates post earnings rebase last quarter as it is seeing improvement in tracked channel demand. Longer term, the firm is still cautious on Clorox’s ability to recover all market share losses. However, with shipments significantly greater than consumption in fiscal Q2, the company’s margins and earnings will beat expectations, the analyst tells investors in a research note.
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