Exane BNP Paribas Upgrades Kellanova (K) to Outperform
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August 5, 2024 2:01 PM EDT
CFRA analyst Arun Sundaram raised the price target on Kellanova (NYSE: K) to $78.00 (from $67.00) while maintaining a Hold rating.
The analyst comments "According to unconfirmed reports from Reuters and The WSJ, Mars is in discussion to acquire K at a value that... More
August 5, 2024 11:53 AM EDT
Kellanova (NYSE: K) shares surged more than 14% Monday following a Reuters report that Mars, the family-owned packaged food giant known for brands like M&M's and Snickers, is considering a potential acquisition of the snack maker.
A potential acquisition would mark one of the largest deals ever in the packaged food sector, given Kellanova's market value of approximately $27 billion, including debt.
Kellanova's shares have risen about 28% so far this year. Despite this... More
