Fly News Breaks for January 7, 2020
Jan 7, 2020 | 05:18 EDT
Credit Suisse analyst Robert Moskow upgraded Kellogg to Outperform from Neutral with a price target of $78, up from $60. The analyst believes Kellogg's portfolio changes and reinvestment spending over the past two years will provide sustainable revenue growth, margin expansion, and high-single-digit earnings growth. He expects organic revenue growth above the peer rate of +2%, and thinks Kellogg's stock deserves a higher valuation than its consumer staples. Moskow raised his Q4 earnings estimate to 89c, versus consensus of 86c, 2020 to $3.97, versus consensus of $4.02, and 2021 to $4.21, versus consensus of $4.19.
News For K From the Last 2 Days
Sep 21, 2021 | 08:18 EDT
Morgan Stanley analyst Pamela Kaufman assumed coverage of Kellogg with an Equal Weight rating with a price target of $64, down from $66. She anticipates muted sales growth beyond COVID and sees limited opportunity for margin expansion given that the company has already implemented large scale cost savings programs, Kaufman tells investors.