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."

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Shares of Kellogg closed at $82.42 yesterday.