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Fly News Breaks for February 8, 2019
K
Feb 8, 2019 | 05:59 EDT
Pivotal Research analyst Timothy Ramey downgraded Kellogg to Hold from Buy and cut his price target for the shares to $62 from $90. The company's adjusted earnings in Q4 disappointed and it "celebrated 0% organic top line growth for the year citing the heavy lift of reversing the negative trajectory," Ramey tells investors in a post-earnings research note. The analyst says he can't stick with a Buy rating given Kellogg's further investment spending ahead.
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