Shares of Clorox (NYSE:CLX) track higher in premarket trading after Argus moves to a Buy rating from Hold.
"We like Clorox’s low-cost operations, strong market share in mid-price product categories, and efforts to boost revenue through innovation," reads the analyst note.
The firm also points to Clorox's strong dividend (2.36% yield, 57.6% payout ratio).
Argus hikes its price target on Clorox to $175.
CLX +1.48% premarket to $152.17
Now read: Does Clorox Have Some Cleaning To Do? »
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