Kellogg Downgraded to “Neutral” at UBS (K)

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Cereal maker Kellogg Company ( K ) on Monday caught a downgrade from analysts at UBS.

The firm lowered its rating on K from "Buy" to "Neutral" with a $54 price target. That target represents an expected 6% upside to the stock's Friday closing price of $50.91.

UBS also cut its earnings estimates for the company, citing a failure by management to execute its business up to plan.

Kellogg shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Kellogg ( K ) have a 3.18% dividend yield, based on Friday's closing stock price of $50.91. The stock has technical support in the $47-$48 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels. We would remain on the sidelines for now.

Kellogg Company ( K ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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