Wells Fargo Cuts Clorox (CLX) Price Target as 2026 Staples Models Are Updated

Core Insights - The Clorox Company (NYSE:CLX) is recognized as one of the 13 Best Consumer Staples Dividend Stocks to invest in currently [1] - Wells Fargo has reduced its price target for Clorox from $117 to $108 while maintaining an Equal Weight rating, reflecting updated models for 2026 [2] - Clorox reported stronger-than-expected first-quarter results, with adjusted earnings of $0.85 per share, surpassing estimates of $0.79 [3] - Despite a 19% revenue decline to $1.43 billion, Clorox's revenue still exceeded expectations of $1.40 billion, attributed to anticipated lower shipments due to inventory adjustments [4] - The company has maintained its full-year outlook, expecting sales to decrease between 6% and 10%, with adjusted earnings projected at $5.95 to $6.30 per share [5] - Clorox has a solid dividend payout ratio of around 72% of next year's earnings estimates, supported by a strong balance sheet, and aims for 3% to 5% annual sales growth [5]