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Fly News Breaks for August 1, 2019
K
Aug 1, 2019 | 13:21 EDT
Pivotal Research analyst Timothy Ramey said Kellogg reported a "low-quality beat" in Q2 and he doesn't see a reason "to get too bullish yet." While it was encouraging to see organic sales grow, the impacts of its divested businesses will be "quite fierce" though the second of quarter of 2020 and he does not see a path to growth until then, Ramey tells investors. He trimmed his estimates for both 2019 and 2020 and keeps a Hold rating on Kellogg shares with an unchanged price target of $62.
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