TD Cowen raised the firm’s price target on WK Kellogg to $24 from $13 and keeps a Hold rating on the shares. The firm said their target increase is to reflect higher confidence in its 2026 EBITDA margin target of 14% but the firm is applying a below-peer valuation multiple of 7.5x EBITDA due to lack of growth in the business model.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KLG:
- Kellogg Co Enhances Governance and Financial Strategy at AGM
- WK Kellogg Co Announces First Quarter Financial Results; Company Reaffirms 2024 Guidance
- Notable companies reporting before tomorrow’s open
- WK Kellogg Co Declares Quarterly Dividend of $0.16 per Share
- WK Kellogg price target raised to $22 from $15.50 at BofA
