K - Kellanova May Bear The Brunt Of Weak Volume Environment As Pricing Diminishes: Analyst Cautions | Benzinga

Stifel analyst Matthew E. Smith reiterated a Hold rating on Kellanova (NYSE: K), lowering the price target to $56 from $71.

Kellanova completed the spin-off of WK Kellogg earlier this week, resulting in a more focused global snacking company with 60% of revenues exposed to snacking categories.

The analyst adds that the company’s new long-term algorithm calls for 3-5% organic sales growth, 5-7% constant currency operating profit growth, and 7-9% constant currency EPS growth.

The analyst updated estimates for the spin and now estimates FY23 EPS of $3.38 andFull story available on Benzinga.com