Barclays raised the firm’s price target on WK Kellogg to $15 from $12 and keeps an Underweight rating on the shares ahead of the Q1 report. In consumer health products and beverages, investors are starting to look beyond the expensive high-visibility names for more value-oriented opportunities, the analyst tells investors in a research note. Meanwhile, in food, the firm wouldn’t be surprised to see more “second derivative” share reactions to Q1 upside versus “admittedly very subdued expectations.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KLG:
- GIS, KLG: 2 Consumer-Packaged Food Stocks for Contrarians
- Kellanova price target lowered to $54 from $55 at Jefferies
- Food stocks looking super cheap, could rally, Barron’s says
- WK Kellogg CEO under fire after ‘cereal for dinner’ comments, NY Post reports
- GLP-1 users’ grocery spending declines 6%-9% after starting, says Morgan Stanley