Morgan Stanley analyst Pamela Kaufman lowered the firm’s price target on General Mills to $72 from $77 and keeps an Underweight rating on the shares after the company delivered “mixed” Q4 results. Retailer inventory destocking was an organic sales headwind, which the firm says underscores the “challenging environment” with consumer elasticities increasing, private label gaining share and retailers exerting more pressure.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GIS:
- General Mills missed growth expectations on inventory cuts, says RBC Capital
- General Mills price target lowered to $86 from $95 at Stifel
- General Mills price target lowered to $82 from $88 at BofA
- General Mills price target lowered to $80 from $89 at Wells Fargo
- Is General Mills’ (NYSE:GIS) Organic Sales Growth Outlook Too Optimistic?
