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Fly News Breaks for February 8, 2019
K
Feb 8, 2019 | 07:25 EDT
BMO Capital analyst Kenneth Zaslow lowered his price target on Kellogg to $62 and kept his Market Perform rating, citing the company's "low quality" Q4 results. The analyst notes that the earnings beat was driven by "tax favorability", which more than offset slightly lower revenue and operating profit. Zaslow adds that while the company has returned to organic growth, its "effectiveness to accelerate profit growth by shifting to growth over margins has come into question."
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