Kellanova initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Leah Jordan initiated coverage of Kellanova with a Neutral rating and $75 price target. The firm initiated coverage of the packaged food sector with a “selectively constructive view.” The analyst sees a solid fundamental backdrop for Kellanova given its strong brand portfolio and high emerging markets exposure, but notes the recent news of a potential takeout “has affected investor perceptions of the stock.”