- BMO Capital analyst Kenneth Zaslow downgraded Kellogg Co K to Market Perform from Outperform with a price target of $70, down from $75, suggesting an upside of 7%.
- The analyst sees a lower probability of upside to consensus expectations given the ongoing challenges in U.S. cereal and industry-wide supply constraints.
- Zaslow notes soft U.S. cereal sales and incremental margin pressure may limit earnings upside.
- The analyst adds he may have underestimated the impact of Kellogg's union strike.
- Related Content: Kellogg's Workers End Strike, Union Says No Concessions Were Made
- Price Action: K shares closed higher by 0.14% at $65.26 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
