A bottle of Clorox bleach Chris Delmas/AFP via Getty Images
Clorox stock has had a great run so far this year and can go further, Citigroup says.
Analyst Wendy Nicholson argues that the shares (ticker: CLX) can rally more than 20% as the company continues to deliver positive surprises even as pandemic-related tailwinds subside. Nicholson boosted her rating on Clorox to Buy from Neutral Friday evening, and raised her price target to $249 from $238. The move comes after her recent meetings with Clorox’s management, including Chief Financial Officer Kevin Jacobsen, during which they discussed the consumer products company’s ongoing plans to leverage changes in consumer behavior into longer-term gains.
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In 1956, Elvis Presley was given the polio vaccine by a public health official before an appearance on The Ed Sullivan Show. Asking a hugely influential public figure like Elvis to take the vaccine publicly was certainly marketing genius. But polio was construed as mainly a disease of children, and Elvis was definitely a grown (sexy) man. So, why Elvis? Because even though parents were vaccinating their young children, teenagers were skipping it. What better way to reach that adolescent audience than to vaccinate their idol on the set of a popular show?
This historical episode is urgently relevant today. The first wave of vaccinations against SARS-COV-2 in the United States is underway this week. As we approach 72 million cases globally, it would make sense for there to be unbridled enthusiasm for a Covid-19 vaccine. In some quarters there is. But there is also considerable reluctance in others.