General Mills price target raised to $76 from $72 at RBC Capital

RBC Capital analyst Nik Modi raised the firm’s price target on General Mills to $76 from $72 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The company reported a "solid" quarter with North America retail and the rest of the segments supporting a beat on the top and bottom in spite of the "softness" in its Pet business, the analyst tells investors in a research note. General Mills’ Pet business is expected to improve in the second half of 2023 with better capacity and marketing investments, Modi adds.