Clorox Shares Could Rally As Operations Revive After Cyberattack, Says Bullish Analyst
Portfolio Pulse from Priya Nigam
Clorox Co (NYSE:CLX) is recovering from a cyberattack that had crippled its operations. The company's shares spiked after it announced that all manufacturing sites were operational again. Analyst Linda Bolton Weiser from DA Davidson upgraded the rating for Clorox from Neutral to Buy, while keeping the price target unchanged at $152. The earnings estimate for fiscal 2024 and 2025 have been reduced due to the cyberattack's impact.
October 02, 2023 | 2:47 pm
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POSITIVE IMPACT
Clorox's recovery from a cyberattack and the upgrade of its rating by DA Davidson could positively impact its stock price.
The news of Clorox's recovery from a cyberattack and the subsequent operational resumption of all its manufacturing sites is a positive development for the company. This, coupled with the upgrade of its rating by DA Davidson, could lead to a rally in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100