Market Overview

UPDATE: Jefferies Raises PT on Kellogg Following 1Q13 EPS Miss

Share:
Related K
Benzinga's M&A Chatter for Thursday January 15, 2015
An Interview With The CEO Of The World's Fastest-Growing Business Network
D.C. Does Create Jobs (Fox Business)

In a report published Friday, Jefferies analyst Thilo Wrede reiterated a Hold rating on Kellogg Company (NYSE: K), and raised the price target from $60.00 to $68.00.

In the report, Wrede noted, “K's 1Q13 adj. EPS of $0.99 missed expectations as the co. was dealing with inflation and, in our view, lower than expected sales. However, as inflation is abating and cost savings are ramping up, mgmt expects performance to improve over the course of the year. Nevertheless, results might still come under pressure because of the limited benefit of share repurchases due to the recent run up in share prices. Reit. Hold with new $68 PT.”

Kellogg Company closed on Thursday at $64.61.

Latest Ratings for K

DateFirmActionFromTo
Jan 2015NomuraMaintainsBuy
Jan 2015CitigroupDowngradesBuyNeutral
Nov 2014JP MorganMaintainsNeutral

View More Analyst Ratings for K
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (K)

Around the Web, We're Loving...

Get Benzinga's Newsletters