General Mills price target lowered to $65 from $70 at Mizuho

Mizuho analyst John Baumgartner lowered the firm’s price target on General Mills to $65 from $70 and keeps a Neutral rating on the shares. Strong cost savings in fiscal Q2 indicated model efficiencies are “far from exhausted,” but weak revenue and softer second half revenue expectations “amplify bears’ concerns,” the analyst tells investors. The firm reduced its FY25 EPS estimate as softer growth likely lingers into the first half of that fiscal year, the analyst noted.