Argus analyst Taylor Conrad raised the firm’s price target on Kellanova to $67 from $63 and keeps a Buy rating on the shares. The company is “well aware” of the challenges it faces from increased consumer demand for healthier food as well as from changes in shopping habits and the overall retail environment, the analyst tells investors in a research note. Argus adds that Kellanova, having reported its initial post spin-off earnings beat earlier this month, has also reduced costs and is now focusing on initiatives to drive growth and boost shareholder value.
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