UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Kellogg Company - Kellanova (NYSE:K)

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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.

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