UPDATE: Citi Lowers PT on Clorox to $69

Citi is out with its report today on Clorox (NYSE: CLX), lowering its PT from $71 to $69.

In its report, Citi writes, "CLX continues to be impacted by weak category growth and input cost pressures. With the stock trading ahead of its fundamentals (boosted by Icahn's proposed takeover), we maintain our Hold rating and are lowering our target price to $69 to reflect Icahn's reduced offer price for the company (from $80 a share, to $78)."

At the time of posting, shares of CLX were trading pre-market at $68.04, down 1.41% from Thursday's close.