Kellanova price target raised to $83.50 from $60 at Piper Sandler

Piper Sandler raised the firm’s price target on Kellanova to $83.50 from $60 and keeps a Neutral rating on the shares after the company agreed to be acquired by Mars for $83.50 a share, with the deal expected to close in the first half of 2025. The firm expects anti-trust clearance to be likely, as there is minimal category overlap, other than in wholesome snack bars, where it still does not foresee any need for regulatory objection.