Goldman Sachs lifts Kellogg (NYSE:K) to a Buy rating from Neutral on its view that organic sales at the food company will accelerate and profit margins improve.
The firm's price target of $72 on Kellogg reps 15% upside potential for shares and is above the consensus sell-side PT of $64.14. The Quant Rating on Kellogg sits at Neutral.
Shares of Kellogg are up 1.85% premarket to $64.00 vs. the 52-week trading range of $51.34 to $74.98. Investors may be taking in the company's announcement of a plant-based product line along with the GS upgrade.
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