Credit Suisse reported on Wednesday that they have downgraded cereal giant, Kellogg Company(K).
The firm has lowered their rating on Kellogg from “Neutral” to “Underperform,” and has given the company a $55 price target. This price target suggests a -4% decrease from the stock’s current price of $57.12.
Analysts have downgraded the company based on a valuation call.
Kellogg shares were mostly flat during premarket trading Wednesday. The stock has increased 12% in the past year.
The Bottom Line
Shares of Kellogg (K) have a 3.01% dividend yield, based on last night’s closing stock price of $57.12. The stock has technical support in the $54 price area. The shares are trading near all-time highs.
Kellogg Company(K) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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