Deutsche Bank Previews Kellogg's Earnings (K)

Deutsche Bank is out with a research report on Kellogg Company K, as it previews the company's earnings report. It has a Buy rating and a $60 price target on shares. In a note to clients, Deutsche Bank writes, "While early in the turnaround, it appears new products, pricing and investments will help Kellogg's 2011+ top line fundamentals while setting the stage for a strong 2012. For the LT, we continue to like the stock given leading shares in large, profitable snack and cereal categories and reasonable valuation (15.2x 2011 P/E)." Shares of K are down 25 cents this morning to $55.13, a loss of 0.45%.