Argus analyst Taylor Conrad notes Kellogg shares have underperformed over the last quarter, falling 9% compared to gains of 5% for the S&P 500 and a flat performance for the industry ETF. However, Kellogg recently reported Q2 earnings that beat consensus expectations and announced a 2% increase in its quarterly dividend in April, notes the analyst, who sees the recent weakness offering a buying opportunity. Argus has a Buy rating and $78 price target on Kellogg shares.
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