Weak Sales Could Keep Kellogg From Outperforming In 2017

Kellogg ( K ) is lower Wednesday, following a downgrade from Credit Suisse . Analyst Robert Moskow and his team cut their rating on the stock from Outperform to Neutral and cut their target price by $7, to $77. Moskow writes that management hasn’t moved quickly enough to boost its margin targets and cost savings, as he had hoped, and as such Kellogg’s revenue growth continues to lag its peers.