Argus raised the firm’s price target on Kellanova to $70 from $67 and keeps a Buy rating on the shares. The firm is positive on the company’s commitment to increasing shareholder value and margin improvement following the spinoff, the analyst tells investors in a research note. Kellanova management is well aware of the challenges it faces from increased consumer demand for healthier food, as well as from changes in shopping habits and the overall retail environment, and the company has reduced costs and is now focusing on initiatives to drive growth and boost shareholder value, the firm added.
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Read More on K:
- Kellanova downgraded to Hold from Buy at Spin-Off Research
- Kellanova price target raised to $72 from $67 at DA Davidson
- Kellanova price target raised to $64 from $60 at Barclays
- Kellanova price target raised to $62 from $57 at TD Cowen
- TOMS Capital takes ‘significant’ stake in Kellanova, Reuters reports
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