Clorox Faces Challenges from Cyberattack; Analyst Predicts Slow Recovery Until FY25
Portfolio Pulse from Lekha Gupta
Raymond James analyst Olivia Tong has downgraded Clorox Co (NYSE:CLX) to Market Perform from Outperform and maintained a price target of $185.00. The downgrade is due to weaker-than-expected Q1 preliminary results and the impact of a recent cybersecurity attack. The analyst predicts a slow recovery for the company, with the impact of the attack largely subsiding by FY25.
October 05, 2023 | 7:11 pm
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NEGATIVE IMPACT
Clorox Co has been downgraded by Raymond James due to weaker Q1 results and a recent cyberattack. A slow recovery is expected until FY25.
The downgrade by Raymond James is due to weaker-than-expected Q1 results and the impact of a recent cybersecurity attack. This negative news is likely to impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100