Kellanova May Bear The Brunt Of Weak Volume Environment As Pricing Diminishes: Analyst Cautions
Portfolio Pulse from Nabaparna Bhattacharya
Stifel analyst Matthew E. Smith has reiterated a Hold rating on Kellanova (NYSE:K), lowering the price target to $56 from $71. The company recently completed the spin-off of WK Kellogg, resulting in a more focused global snacking company. However, the analyst cautions that a weak volume environment and diminishing pricing could impact the company negatively. Smith estimates FY23 EPS of $3.38 and 7% organic sales growth. Shares are currently trading in line with peers.
October 06, 2023 | 7:36 pm
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Kellanova's stock may be impacted by a weak volume environment and diminishing pricing, according to Stifel analyst Matthew E. Smith. The analyst has lowered the price target for the company to $56 from $71.
The analyst's lowered price target and caution over weak volume and diminishing pricing could negatively impact investor sentiment towards Kellanova, potentially leading to a decrease in the company's stock price in the short term.
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