General Mills price target raised to $78 from $75 at BofA

BofA analyst Bryan Spillane raised the firm’s price target on General Mills to $78 from $75 and keeps a Neutral rating on the shares. The firm raised its Q1 adjusted EPS estimate to $1.02 from $1.01 and FY25 adjusted EPS view to $4.49 from $4.48, noting that these compare to Visible Alpha consensus of $1.06 and $4.50, respectively. The raised estimates are “driven entirely” by a higher organic sales estimate of down 1.9%, up from a prior view of down 2.5%, as North America Retail coming in better than expected, per Nielsen data, the analyst tells investors.