Jefferies Raises Numbers On Kellogg (K)
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Price: $83.44 --0%
Rating Summary:
6 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies raised estimates and its price target on Kellogg (NYSE: K) from $47 to $57 but is keeping its Hold rating.
The firm comments, "Kellogg is working through its manufacturing and supply chain challenges and we continue to see higher levels of investment over the next few quarters. At the same time, management is working to reinvigorate its new product pipeline and will be spending to both drive new offerings and further brand support. Given this near-term outlook we see few catalysts for meaningful EPS upside and continue to rate the company a Hold."
Jefferies raised Q1 EPS from $1.00 to $1.03, FY12 from $3.47 to $3.50. FY13 was cut from $3.84 to $3.74,
For an analyst ratings summary and ratings history on Kellogg click here. For more ratings news on Kellogg click here.
Shares of Kellogg closed at $50.82 yesterday.
The firm comments, "Kellogg is working through its manufacturing and supply chain challenges and we continue to see higher levels of investment over the next few quarters. At the same time, management is working to reinvigorate its new product pipeline and will be spending to both drive new offerings and further brand support. Given this near-term outlook we see few catalysts for meaningful EPS upside and continue to rate the company a Hold."
Jefferies raised Q1 EPS from $1.00 to $1.03, FY12 from $3.47 to $3.50. FY13 was cut from $3.84 to $3.74,
For an analyst ratings summary and ratings history on Kellogg click here. For more ratings news on Kellogg click here.
Shares of Kellogg closed at $50.82 yesterday.
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