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Credit Suisse lifts estimates on Kellogg

Published 01/24/2018, 11:34 AM
© Reuters.  Credit Suisse lifts estimates on Kellogg
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  • Credit Suisse (SIX:CSGN) raises estimates on Neutral-rated Kellogg (K +0.4%) to factor in FX swings and higher expectations for the food seller's organic sales track.
  • "We expect 0.6% sales growth in 2018 including a currency benefit of 0.9%, an organic sales decline of -1.1%, and an acquisition benefit of 0.9%. We are above consensus by 1% due to differences in how we are modeling currency benefits," forecasts the CS team. The estimate on Kellogg's EPS is maintained until there is more clarity on changes to the tax rate.
  • Credit Suisse has a price target of $68 on Kellogg.
  • Now read: Kellogg: Good Cereals, But Without Added Value


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