Advertisement

Analyst Sees 34% Upside in Clorox Stock as Sales Growth Accelerates

Analyst Sees 34% Upside in Clorox Stock as Sales Growth Accelerates

Despite industry data showing Clorox (NYSE: CLX) sales are accelerating both sequentially and year over year, an analyst is maintaining her price target of $268 per share on the household products maker. Shares of Clorox are down 16% from the all-time high they hit in August, but they remain 30% above where they started 2020, and rising cases of COVID-19 suggest sales will accelerate further. Clorox reported organic sales shot 27% higher in its fiscal 2021 first quarter and profits doubled. Not only were sales of its disinfecting wipes soaring, but consumers were still choosing to cook more at home than going out to eat.