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Fly News Breaks for February 8, 2018
CLX
Feb 8, 2018 | 08:18 EDT
As reported earlier, Argus analyst John Staszak downgraded Clorox to Hold from Buy, saying that while the company is benefiting from low-cost operations and strong market share, margin pressure and private-label competition pose obstacles to its growth. The analyst sees few near-term catalysts for the stock after its latest Q2 earnings beat and FY18 guidance raise. Staszak also notes that Clorox has "substantial debt", and investors may sell on any sign that the company could reduce its dividend payment to boost its balance sheet.