Deutsche Bank analyst Steve Powers downgraded Clorox (CLX), Church & Dwight (CHD) and Kimberly-Clark (KMB) to Sell from Hold and lowered his price targets to $123, $51, and $99, respectively. While investor appetite for defensive names remains elevated, the fundamental challenges facing Consumer Packaged Goods companies are "somewhat underappreciated," Powers tells investors in a research note. The analyst believes currency and emerging market volatility will pressure numbers in the near-term, while structural competitive and retail pressures will challenge momentum longer-term. Powers believes the three companies carry "disproportionate downside risk" into the Q3 results following the shares' recent outperformance.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Notable gainers among liquid option names this morning include Globe Life (GL) $71.33 +4.94, Super Micro (SMCI) $764.85 +47.83, Danaher (DHR) $250.88 +14.79, Kimberly Clark (KMB) $136.87 +7.94, and General Motors (GM) $45.38 +2.17.
Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here