BofA analyst Bryan Spillane raised the firm’s price target on General Mills to $72 from $68 and keeps a Neutral rating on the shares after the company reported Q3 earnings ahead of Street expectations. Following the report, the firm raised its FY24 adjusted EPS estimate to $4.50 from $4.48 and maintains its FY25 and FY26 adjusted EPS estimates, stating that it thinks the current valuation balances General Mills’ near-term volume pressures with the positive medium-term growth prospects.
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