BofA analyst Bryan Spillane lowered the firm’s price target on General Mills to $72 from $82 and keeps a Neutral rating on the shares after lowering fiscal Q1 volume forecasts for North America Retail and Pet Food segments based on recent Nielsen take-away trends. The firm’s FY24 estimates “now move to the low end of management guidance” and its organic sales growth view is reduced to 2.7% from 3.3%, the analyst tells investors.
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