WD-40 price target raised to $322 from $303 at DA Davidson

DA Davidson raised the firm’s price target on WD-40 (WDFC) to $322 from $303 and keeps a Buy rating on the shares. The analyst cites the company’s Q4 sales and gross margin beat while noting that the management’s FY25 outlook of 6%-11% sales growth rate is “strong” and higher than consensus of 6%. The divestiture of household cleaners business, expected to be completed in the first half of FY25, reduces sales by $23M but is expected to boost annual gross margin by 60bps, the firm tells investors in a research note.