Shares of Kellogg may come under pressure as the company finds it difficult to pass on rising prices from here, according to UBS. Analyst Cody Ross downgraded shares of Kellogg to neutral from buy, saying in a Thursday note that the food manufacturer faces “some of the highest inflationary pressure” within the firm’s coverage. “Kellogg’s stock is up the second most in our coverage YTD, but we are concerned that the company is going to experience a significant amount of inflation over the [next 12 months] and will likely have difficulty passing through as much price going forward in light of WMT’s/TGT’s/KR’s recent commentary to keep costs down in food and beverage categories,” Ross wrote. Food manufacturers have been pressured by soaring commodities costs, which has pushed up the price of ingredients like grains and the cost of transporting finished products. Bank of America cut…
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