Susquehanna analyst Pablo Zuanic reiterated a Hold rating on Kellogg (NYSE: K) today and set a price target of $76. The company’s shares opened today at $70.12.
Zuanic commented:
“K guidance for 2018 (last reaffirmed at a broker conference in early Sep) points to organic sales growth down 1% to flat (or 0% to up +1% when stripping out the annualized 1pt hit from the DSD exit, which lapsed end of July).”
According to TipRanks.com, Zuanic is a 4-star analyst with an average return of 5.2% and a 45.8% success rate. Zuanic covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Constellation Brands Inc, and Anheuser-Busch Inbev Sa.
Kellogg has an analyst consensus of Hold, with a price target consensus of $75.56, which is a 7.8% upside from current levels. In a report issued on September 17, Morgan Stanley also initiated coverage with a Hold rating on the stock with a $75 price target.
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The company has a one-year high of $74.98 and a one-year low of $56.40. Currently, Kellogg has an average volume of 1.73M.
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Kellogg Co. engages in the manufacturing, marketing, and distribution of cereal and convenience foods, including cookies, crackers, toaster pastries, cereal bars, frozen waffles, and meat alternatives. It operates through the following segments: U.S. Morning Foods, U.S. Snacks, U.S. Specialty, North America Other, Europe, Latin America, and Asia Pacific.
