Morgan Stanley warns on Clorox [Seeking Alpha]
Morgan Stanley (MS)
Last morgan stanley earnings: 4/16 07:15 am
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Source: Seeking Alpha
Morgan Stanley warns on CloroxMorgan Stanley downgrades Clorox (CLX-0.2%) as part of a broad sweep through the household products sector that focuses on FX, margin pressure and commodity inflation.The firm moves to an Underweight rating on Clorox from Equalweight and lowers its price target to $116."We believe topline/gross margin downside vs. consensus should catalyze further multiple compression as valuation (~21x NTM P/E) looks stretched relative to our muted MSD% EPS growth outlook (in line with US food companies that trade at a 16x NTM P/E multiple)," warns MS.Click to subscribe to real-time analytics on CLXNow read:Clorox - Nutranext, What Is Next? »
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