In a report released yesterday, Peter Galbo from Bank of America Securities reiterated a Buy rating on General Mills, with a price target of $61.00.
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Peter Galbo has given his Buy rating due to a combination of factors including General Mills’ strong first-quarter performance and strategic initiatives. The company reported adjusted earnings per share that surpassed expectations, driven by effective sales and SG&A leverage. Despite anticipating a decline in operating profit and EPS for the fiscal year, General Mills remains focused on improving its volume share, as evidenced by growth in eight out of ten of its top US categories.
Additionally, the upcoming launch of ‘Love Made Fresh’ is expected to bolster the company’s performance in the latter half of the fiscal year. Galbo’s price objective of $61 reflects a valuation that aligns with the food peer group, suggesting confidence in the company’s medium-term growth prospects despite short-term challenges. This valuation underscores the balance between current volume pressures and anticipated growth across key markets and product categories.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $55.00 price target.
GIS’s price has also changed moderately for the past six months – from $60.940 to $49.180, which is a -19.30% drop .