Prior to today's open, BofA analyst Bryan Spillane upgraded Kellogg two notches, to Buy from Underperform, with a price target of $70, up from $53. The company has taken action to improve sales growth over the past two years while profits have lagged, but this should improve in fiscal 2020, Spillane told investors in a research note. Further, the analyst noted that BofA strategists see potential for the recent rotation from growth/momentum to value continuing next year. Kellogg is attractive in this context given its "modest valuation," said Spillane. In afternoon trading following this morning's upgrade, Kellogg shares are up $1.64, or 2.46%, to $68.42.