Kellogg Company (K): $67 Price Target From Morgan Stanley

By Amit Chowdhry ● Jan 16, 2022
  • The shares of Kellogg Company (NYSE: K) have received a $67 price target from Morgan Stanley. These are the details.

The shares of Kellogg Company (NYSE: K) have received a $67 price target from Morgan Stanley. And Morgan Stanley analyst Pamela Kaufman increased the price target from $64 while maintaining an “Equal-Weight” rating on the shares. 

Kaufman pointed out that the Packaged Food group underperformed the market over the last year, but has seen stronger performance in the last month due to sector rotation and a rise in COVID-19 cases that supports near-term demand.

Plus Kaufman expects food multiples to be constrained by a more challenging fundamental outlook and prefers companies leveraged to a post-COVID topline recovery, benefit from secular growth tailwinds, and have stronger pricing power.

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