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Kellogg Beat 2Q17 Estimates, Analysts Raised the Target Price

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Part 6
Kellogg Beat 2Q17 Estimates, Analysts Raised the Target Price PART 6 OF 7

Analysts Reacted to Kellogg’s 2Q17 Results

Analysts’ recent activity

Kellogg (K) reported better-than-expected 2Q17 results. As a result, several analysts upgraded their target price on Kellogg stock. J. P. Morgan upgraded Kellogg stock to “overweight” from “neutral.” Analyst Ken Goldman stated that the company’s transition from direct store delivery to a warehouse distribution model would result in lower costs and accelerate earnings growth. The anticipated lower impact of currency fluctuations makes Kellogg stock attractive.

Analysts Reacted to Kellogg’s 2Q17 Results

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Credit Suisse raised its target price on Kellogg to $70.00 from $68.00. Meanwhile, Susquehanna raised its target price to $78.00 from $77.00. BMO reduced its target price on Kellogg stock to $78.00 from $85.00.

Most analysts continue to maintain a “neutral” outlook on Kellogg stock. Analysts have a consensus score of 2.9 on Kellogg on a scale of one (for strong buy) to five (for strong sell). Of the 21 analysts providing recommendations on Kellogg stock, 19% maintained a “buy,” 67% recommended a “hold,” and 14% recommended a “sell.” As of August 4, 2017, Kellogg stock was trading at $69.62, which represents 7.6% upside compared to analysts’ target price of $74.94.

Peer comparison

In comparison, analysts maintain a positive outlook on Kraft Heinz (KHC) and Conagra Brands (CAG) stock. For Kraft Heinz, 74% of the 19 analysts covering the stock recommended a “buy” and 26% recommended a “sell.” For Conagra Brands, 64% maintained a “buy,” 22% recommended a “hold” and 14% recommended a “sell.”

For General Mills (GIS) stock, 10% of the 20 analysts maintained a “buy” rating, 65% recommended a “hold,” and 25% recommended a “sell.”

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