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Goldman Sachs Resumes Coverage on The Clorox Company at “Neutral” (CLX)

Posted: 12/17/2012 8:30:00 AM
Referenced Stocks: CLX

On Friday analysts at Goldman Sachs resumed coverage on The Clorox Company ( CLX ) giving the household goods manufacturer a "Neutral" rating.

The firm values shares of Clorox at $79, a +4.8% upside from Friday's closing price of $75.40.

Goldman Sachs analysts believe that the CLX shares are currently overvalued due to growth problems in its product market, however expected short-term future earnings prevents a more cautious rating.

Clorox shares were flat in premarket trading on Monday. The stock is up +13.28% year-to-date.

The Bottom Line
Shares of Clorox ( CLX ) have a 3.40% dividend yield, based on Friday's closing stock price of $75.40. The stock has technical support in the $70-$72 price area. The stock is trading right near its all-time highs.

The Clorox Company ( CLX ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .