WK Kellogg added to ‘Tactical Underperform’ list at Evercore ISI

Evercore ISI added WK Kellogg (KLG) to the firm’s “Tactical Underperform” list with an In Line rating and $20 price target on the shares. The firm’s “Tactical Underperform” call is largely based on downside to consensus revenue and valuation, the analyst tells investors. Historic levels of underperformance have set “a low bar” for the U.S. Food group, but heading into 2025, the firm will be watching for signs of stabilizing volume and improved earnings delivery, the analyst tells investors in an outlook note for the sector.