Citi lowered the firm’s price target on General Mills (GIS) to $67 from $71 and keeps a Neutral rating on the shares following the company’s fiscal 2025 guidance cut. The firm appreciates that General Mills is trading at the low end of its historic valuation ranges. ITs underlying organic sales growth, looking past shipment timing effects, “does seem to be on the gradual upswing,” the analyst tells investors in a research note. However, Citi lowered estimates to reflect both low sales expectations and more margin pressure.
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