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Fly News Breaks for December 7, 2016
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Dec 7, 2016 | 08:17 EDT
As previously reported, Credit Suisse downgraded Kellogg to Neutral from Outperform and lowered its price target to $77 from $84. Analyst Robert Moslow believes expectations for breakfast cereal stabilization in 2017 are overly optimistic and consensus estimates need to go lower to reflect continued challenges in cereals and company specific problems in the wholesome snacks category.