Fly News Breaks for September 30, 2019
Sep 30, 2019 | 07:39 EDT
Morgan Stanley analyst Dara Mohsenian said he sees rising risk to Clorox's earnings over the next few years and he cut his EPS forecasts to 2% and 3% below consensus, respectively, in the next two years fiscal years to reflect building U.S. scanner data weakness. His deep dive into Clorox's top categories in U.S. scanner data finds that the company's challenges are broader and more pronounced than the market perceives, contends Mohsenian, who keeps an Underweight rating on Clorox and cut his price target on the stock to $134 from $144.
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