Wells Fargo upgrades Clorox to Equal Weight, raises price target to $157

As previously reported on Tuesday, Wells Fargo upgraded Clorox (CLX) to Equal Weight from Underweight with a price target of $157, up from $155. While the firm says it continues to struggle with Clorox’s sustainable sales growth profile, namely as the benefits of easier comps are now over and sales growth has reverted to negative again, it also acknowledges some key relative positives for Clorox, namely more EPS visibility. That make an Underweight rating unreasonable, Wells adds.