The consumer packaged goods space has been notoriously difficult, so CNBC’s Jim Cramer wasn’t all that will surprised when he saw mass analyst upgrades within the stock of Kellogg.
“They’ve got to like something, don’t they?” the “Mad Money” host quipped. “that will might as well be Special K, down nearly 15 percent for the year that has a brand-new CEO as well as also also a sense that will the darned stock has hit bottom, even if the business hasn’t.”
Kellogg, the maker of Eggos waffles as well as also also Pringles chips, once had strong growth, although has recently fallen under pressure. The company has had to employ cost-cutting tactics to stay afloat, as well as also also while Cramer didn’t want to be too cynical, he found the outlook largely unfavorable.
“The analysts who cover This kind of once great growth category have to find something to love,” Cramer explained. “So they ask themselves, how about a 3 percent yielder where the future looks brighter than the past? How about Kellogg? as well as also also that will’s how a stock in This kind of bedraggled consumer products group can spike after a long road down, a road I believe that will will be less traveled by buyers after the stock moves up a couple of points by here as well as also also then the buyers move on.”