Credit Suisse Bullish on Kellogg Company (K), Raises Price Target
Robert Moskow of Credit Suisse weighed in on Kellogg Company (NYSE:K) after taking a closer look at the company’s margins.
The analyst believes that Kellogg will “[accelerate] and [raise] its long-term margin targets.” He explains, “The market’s resounding approval of General Mills’ strategic shift gives the Kellogg management team a ‘green light’ to put more emphasis on cost savings and less on growth. The roll-out of Zero-Based Budgeting in Kellogg’s international divisions gives the company plenty of fuel to drop incremental savings to the bottom line.”
The analyst reiterates an Outperform rating on the stock and raises his price target from $84 to $94, noting that the stock has potential even without an acquisition.
According to TipRanks, Robert Moskow has a 60% success rate recommending stocks with a 3.9% average return per rating.