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Morgan Stanley Remains Positive on Kellogg Company Despite Disappointing Guidance

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As Grocery Stores Cut Cereal Shelf Space, Refrigerated And Frozen Foods Are Wanted Products
Cautious Call On Kellogg; Shares Downgraded On Risk To Shelf Space
5—-Week Company Lows (GuruFocus)

In a report published Friday, Morgan Stanley analyst Matthew Grainger reiterated an Equal-Weight rating and $61.00 price target on Kellogg Company (NYSE: K).

In the report, Morgan Stanley noted, “We appreciate K's frank assessment of issues in its key categories and its commitment to reinvest in new ideas / capabilities. However, despite valuation at the low end of the peer group, we think investors remain better served waiting for signs of progress before becoming more constructive.”

Kellogg Company closed on Thursday at $57.74.

Latest Ratings for K

DateFirmActionFromTo
Sep 2017PiperJaffrayDowngradesOverweightNeutral
Aug 2017JP MorganUpgradesNeutralOverweight
May 2017PiperJaffrayInitiates Coverage OnOverweight

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Posted-In: Matthew Grainger Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

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