Evercore ISI analyst David Palmer lowered the firm’s price target on General Mills to $80 from $85 and keeps an In Line rating on the shares. The firm sees “a variety of earnings drivers” that keep its EPS estimates roughly the same after the company’s Q4 earnings and FY24 guidance, but argues that the report and guidance “did little to ease our concern about slowing North America Retail sales” through fiscal 2024. The firm, which is lowering its domestic revenue estimates, is also trimming its target valuation, the analyst noted.
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