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🔵KELLOGG SHARES FALL AFTER NEGATIVE RATING

🔵KELLOGG SHARES FALL AFTER NEGATIVE RATING

Day: 10 | Time: 22:37:31 WK Kellogg, the producer of Rice Krispies and Special K, saw its shares fall after Bank of America Securities gave a negative rating to the cereal company's stocks. The bank's analysts cut the stock rating to "underperform" and the target price to $17 from $24, citing a "slow" industry trend and a decline in quarterly sales. This could lead to increased advertising and promotion of products, putting strain on the company's margins. Analysts also questioned the future growth of the company's margins. In contrast, General Mills shareholders, a competitor of Kellogg, saw an increase in shares.

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GettyImages-1571808901-91f8b1be5f794ebd98eafffa6f9bc336.jpg

Source: Yahoo, Bloomberg , Reuters, Trading Economics,