Thursday, January 6, 2011

Clorox (NYSE:CLX) EPS Estimates Lowered on Weaker 2011 Sales

Sales for Clorox (NYSE:CLX) in 2011 look like they'll slow down, prompting UBS (NYSE:UBS) to lower their EPS estimates and price target on the company.

UBS said, "We are lowering our EPS estimates to $3.98, to reflect lower sales growth for FY 11 (we estimate flat growth, previously +2%) as well as back-loaded share repurchases. Our FY 2012 EPS is also lowered to $4.43. Our December Q EPS estimate is $0.59, within the company’s guidance range."

UBS reiterates a "Buy" on Clorox, which closed Wednesday at $61.94, gaining $0.37, or 0.60 percent. UBS lowered their price target on Clorox from $76 to $72.

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