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UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Kellogg Company

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In a report published Friday, Jefferies & Company reiterated its Hold rating on Kellogg Company (NYSE: K), and raised its price target from $52.00 to $54.00.

Jefferies noted, “K remains quite upbeat on the prospects for turning around its business and cited better revenue growth and market share as proof a turn was at hand. While revenues do look healthier, the company is spending heavily to get the results. At the same time, stripping away the better performance from Pringles exposes a base business that still has some way to go to improve profitability and manufacturing proficiency.”

Kellogg Company closed on Thursday at $53.50.

Latest Ratings for K

Sep 2016Credit SuisseMaintainsOutperform
Aug 2016JP MorganMaintainsNeutral
Jul 2016Deutsche BankMaintainsHold

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