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Fly News Breaks for December 11, 2019
K
Dec 11, 2019 | 17:37 EDT
Deutsche Bank analyst Steve Powers resumed coverage of Kellogg with a Buy rating and $74 price target. The analyst notes that while questions about the company's top line resiliency and the costs required to achieve "consistent growth" may linger, he sees the valuation below 17-times earnings as "adequately discounting" those concerns. Powers adds that he is positive on Kellogg's ability to achieve results that are "consistent with its algorithm" in the next 6-12 months.
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