Kellanova price target lowered to $61 from $64 at Barclays

Barclays lowered the firm’s price target on Kellanova to $61 from $64 and keeps an Equal Weight rating on the shares. The analyst believes the macro backdrop and/or relative valuations “present a difficult investment landscape” within U.S. consumer staples heading into the Q2 reports. Food valuations appear attractive, though the fundamentals largely do not, the analyst tells investors in a research note. The firm says it “feels difficult to find pockets of meaningful upside potential at either end of the spectrum right now.”