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WK Kellogg Faces Grim Outlook: BofA Analyst Downgrades Stock Amid Persistent Volume Challenges

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BofA Securities analyst Peter Galbo downgraded the shares of WK Kellogg Co (NYSE:KLG) from Neutral to Underperform and lowered the price target from $24 to $17.

Volume trends in the packaged food industry have yet to show any meaningful improvement despite the hopes that lapping SNAP (supplemental nutrition assistance program) and a more promotional environment would lead to a volume lift, said the analyst.

Commentary and …

Full story available on Benzinga.com

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