J.P. Morgan Reiterates Overweight Rating On CLX

Clorox Company CLX FQ2 results were not as bad as feared, as they beat their pre-announcement and delivered adjusted EPS excluding the impairment charges of $0.68 vs. their guidance from January 3 of $0.57-0.63, J.P. Morgan reports. “With the tough 1H behind them, management appeared more optimistic about their outlook for the remainder of the year, despite the reduction in guidance,” J.P. Morgan writes. “While categories remain weak, there are glimpses of hope, as trends seem to be stabilizing in some categories, i.e. trash bags and natural personal care.” J.P. Morgan is reiterating its Overweight rating on CLX, which currently trades at $65.49.