Kellogg (K) Stock Rating Upgraded at Credit Suisse

Kellogg (K) was upgraded to 'neutral' from 'underperform' at Credit Suisse on Wednesday morning.
By Amanda Schiavo ,

NEW YORK (TheStreet) -- Kellogg (K) - Get Report was upgraded to "neutral" from "underperform" at Credit Suisse on Wednesday morning. The firm set a $72 price target on the cereal maker's stock, up from its previous $66 price target.

"The business is showing signs of stabilization and management is acting with a greater sense of urgency to deliver stronger results. It is quite possible that this urgency stems from increased pressure from either the board or outside shareholders. As a result, we put a high probability on the company delivering on its promise to return to 6-8% EPS growth in 2016," the firm said in a note.

Before the market opened on Tuesday, the Eggo waffle producer reported its 2015 third quarter earnings results. Adjusted earnings came in at 85 cents per diluted share on revenue of $3.32 billion for the most recent quarter.

Shares of Kellogg are up by 0.63% to $68.50 in pre-market trading today. 

Separately, TheStreet Ratings team rates KELLOGG CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

We rate KELLOGG CO (K) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: K

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