RBC Capital Raises Price Target on Kellogg (K) to $86 Following In-Line 2Q
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RBC Capital reiterates Sector Perform rating on Kellogg (NYSE: K), and raised the price target to $86.00 (from $82.00), following the company's 2Q earnings report. K reported an in-line EPS of $0.91. Management maintained 2016 EPS of $3.61.
Analyst David Palmer commented, "While we maintain our full-year EPS estimates after a relatively in-line 2Q result, we meaningfully increase our out-year estimates to reflect a two-year cost savings acceleration. We also increase our target to $86 on higher earnings and a greater focus on profit over volume. Maintain Sector Perform."
Shares of Kellogg closed at $82.42 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings
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