RBC Capital Markets analyst Nik Modi reiterated the Sector Perform rating on Clorox Company (NYSE:CLX), with a price target of $138.
The company will issue its second-quarter fiscal year 2024 results on Feb. 1, 2024.
Given that the stock has rallied nearly 20% since late October, the analyst is cautious about the company going into the print.
While the analyst’s channel checks indicate more bad than good, some of the risk is mitigated, as this quarter’s results should be supported by inventory rebuild of shipments.
Per the analyst, focus will be on the company’s commentary regarding the second half of the year given the wide guidance ranges.
Per Modi, the topline range is ...