WK Kellogg Faces Grim Outlook: BofA Analyst Downgrades Stock Amid Persistent Volume Challenges
WK Kellogg Faces Grim Outlook: BofA Analyst Downgrades Stock Amid Persistent Volume Challenges
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.
BofA Securities的分析師彼得·加爾博將Wk Kellogg股票（NYSE:KLG）的評級從中立下調至跑輸大盤，同時將目標價從24美元下調至17美元。
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.
分析師表示，儘管希望期望超過補貼營養援助計劃和更多宣傳的環境將導致成交量提升，但包裝食品行業的成交量走勢尚未顯示任何實質性改善。
Commentary and results from main competitor in U.S. Cereal General Mills Inc (NYSE:GIS) was not constructive with its Cereal business down -4% YoY in its May quarter end, noted the analyst.
分析師指出，同行業主要競爭對手美國麥片公司（NYSE:GIS）的評論和業績未給KLG帶來建設性的影響。該公司5月季度末的麥片業務同比下降了4%。
The analyst expects industry trends to remain sluggish for KLG over the next 12 months unless a more full scale promotional/price investment reset is contemplated.
分析師認爲，除非考慮重新進行更全面的促銷/價格投資重置，否則KLG未來12個月的行業趨勢將保持低迷。
WK Kellogg expects flat sales growth through 2026, outpacing expected category low-single digits declines. However, Nielsen scanner trends have remained soft with negative sales growth and share losses persisting, said the analyst.
Wk Kellogg預計在2026年之前銷售額將保持平穩增長，超過預期的類別低個位數下降。然而，根據尼爾森掃描儀的趨勢，銷售額負增長和份額損失持續存在。該分析師表示，缺乏吸引力的成交量恢復可能會導致KLG不得不更加註重其利潤和損益表，從而短期內限制較大的利潤擴張以幫助穩定成交量。
According to the analyst, lackluster volume recovery could lead KLG to have to reinvest more heavily into its P&L, which will stunt margin expansion in the short run to help stabilize volumes.
分析師表示，麥片類別已經面臨了持久的成交量壓力，而在短期內，他並不認爲有任何有意義的改善途徑。
The cereal category has seen prolonged volume pressure and the analyst does not see a path for meaningful improvement over the near term.
KLG的股票交易價格爲15.83美元，已較上次檢查時下跌1.80美元。
Price Action: KLG shares are trading lower by 1.80% at $15.83 at last check Wednesday.
價格走勢：KLG股票週三最後一次檢查時下跌1.80％，爲15.83美元。