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WK Kellogg Faces Grim Outlook: BofA Analyst Downgrades Stock Amid Persistent Volume Challenges - WK Kellogg (NYSE:KLG)

Summary by Benzinga
BofA Securities analyst Peter Galbo downgraded the shares of WK Kellogg Co (NYSE:KLG) from Neutral to Underperform and lowered the price target from $24 to $17. Volume trends in the packaged food industry have yet to show any meaningful improvement despite the hopes that lapping SNAP (supplemental nutrition assistance program) and a more promotional environment would lead to a volume lift, said the analyst. Commentary and ...Full story available…

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WK Kellogg Faces Grim Outlook: BofA Analyst Downgrades Stock Amid Persistent Volume Challenges - WK Kellogg (NYSE:KLG)

BofA Securities analyst Peter Galbo downgraded the shares of WK Kellogg Co (NYSE:KLG) from Neutral to Underperform and lowered the price target from $24 to $17. Volume trends in the packaged food industry have yet to show any meaningful improvement despite the hopes that lapping SNAP (supplemental nutrition assistance program) and a more promotional environment would lead to a volume lift, said the analyst. Commentary and ...Full story available…

·New York, United States
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Benzinga broke the news in New York, United States on Wednesday, July 10, 2024.
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