Information Provided By: 
Fly News Breaks for April 2, 2019
K
Apr 2, 2019 | 07:03 EDT
Citi analyst David Driscoll views favorably Kellogg's sale of its North American cookies, fruit snacks, ice cream cone, and pie crusts businesses to Ferrero for $1.3B. While the transaction is dilutive to Kellogg's earnings by approximately 18c, or 4.6% on an annual basis, it should be accretive to revenue growth and margins. Further, it allows Kellogg to place more resources toward other portions of its portfolio, Driscoll tells investors in a research note. He keeps a Buy rating on Kellogg with a $66 price target.
News For K From the Last 2 Days
