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Kellogg Downgraded at Credit Suisse (K)
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.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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