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Fly News Breaks for May 24, 2018
K
May 24, 2018 | 08:06 EDT
Argus analyst John Eade kept his Buy rating and $73 price target on Kellogg, saying the company's 11.9% stock price decline over the past 3 months offers investors a buying opportunity. While remaining concerned with Kellogg's operating environment challenges, the analyst cites the company's recent EPS beat, a trend of supply chain strengthening, and the recent appointment of a new CEO. Eade adds that valuation is also attractive at 14-times his FY18 EPS estimate - the low end of the company's historical 14-24-times range.
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