Here's Why WK Kellogg Stock Dropped Again Today
It's been two weeks since Kellogg split into two companies: WK Kellogg (NYSE: KLG) and Kellanova. But WK Kellogg stock still isn't getting any love from Wall Street. Today, another analyst gave a tepid outlook for the stock, failing once again to excite investors. And that's why WK Kellogg stock was down about 10% as of 1:30 p.m. ET.
Bank of America analyst Peter Galbo is the latest to weigh in on WK Kellogg stock. According to TipRanks, Galbo started his coverage of the company with a neutral rating and a price target of $11.50 per share. Considering this is well below the price of $13.80 per share that it started at just two weeks ago, Galbo's price target isn't very inspiring.
Of the analysts tracked by TipRanks, five have weighed on WK Kellogg stock so far. None have recommended buying shares and one recommends selling. The rest are neutral. This perhaps explains why shares have largely trended downward since the company separated from Kellanova.
Source Fool.com
