Kellanova price target raised to $58 from $56 at Wells Fargo

Wells Fargo analyst Chris Carey raised the firm’s price target on Kellanova to $58 from $56 and keeps an Equal Weight rating on the shares. Kellanova enters 2024 with now restated financials, renewed focus post-spin with merchandising/ad spend to step up behind innovation, and a chance to close a significant underperformance gap to category exposures in Food, the analyst tells investors in a research note.