Stifel analyst Matthew Smith lowered the firm’s price target on General Mills (GIS) to $65 from $72 and keeps a Buy rating on the shares after the company kicked off the annual CAGNY conference by highlighting the progress it has made renovating its portfolio and the investments it is making in its business. The company did not address its FY25 guidance, but provided some puts and takes to FY25, including dilution from the yogurt divestitures and reinvestment of the benefit from an extra shipping week. Following the industry event, the firm is lowering its FY25 and FY26 estimates following a softer revenue performance in Q3, the analyst noted.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GIS:
- General Mills price target lowered to $70 from $78 at BofA
- General Mills price target lowered to $61 from $64 at Wells Fargo
- General Mills provides update on Accelerate Strategy after five years
- Trump Trade: President says today ‘the big one’ as reciprocal tariffs come
- General Mills put volume heavy and directionally bearish