Goldman Sachs Resumes Coverage on The Clorox Company at “Neutral” (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 Dividend.com DARS™ Rating of 3.4 out of 5 stars.