UBS Cuts Numbers on Kellogg (K); Losing the Trade Up Consumer?
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Price: $83.44 --0%
Rating Summary:
6 Buy, 25 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 25 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on Kellogg (NYSE: K) price target of $49.00 (from $54.00).
Analyst, David Palmer, said, "We are trimming our earnings and price target in order to reflect lower accretion from the Pringles acquisition—largely due to increasing Euro weakness—as well as ongoing sluggish US volume. Our 2012e EPS moves to $3.36 (Flat YOY; cons $3.27) from $3.40, and 2013e EPS to $3.55 (+5% YOY, cons $3.61) from $3.61."
"One growing concern for us is that our large cap covered names—which are often grains based processed food companies—are losing volume share and more importantly, seemingly failing to capture trade up within their portfolios."
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 $46.53 yesterday.
Analyst, David Palmer, said, "We are trimming our earnings and price target in order to reflect lower accretion from the Pringles acquisition—largely due to increasing Euro weakness—as well as ongoing sluggish US volume. Our 2012e EPS moves to $3.36 (Flat YOY; cons $3.27) from $3.40, and 2013e EPS to $3.55 (+5% YOY, cons $3.61) from $3.61."
"One growing concern for us is that our large cap covered names—which are often grains based processed food companies—are losing volume share and more importantly, seemingly failing to capture trade up within their portfolios."
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 $46.53 yesterday.
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