In a report released today, 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 that suggest a positive outlook for General Mills. The company is on track with its fiscal year 2026 plans, with expectations of continued growth in volume and market share. Additionally, upcoming initiatives such as the launch of Fresh Pet Food and other new products are anticipated to drive further growth.
Moreover, General Mills is strategically addressing consumer trends by focusing on innovation and value, particularly in areas like protein and indulgence. The company’s capital allocation strategy, prioritizing debt reduction over share buybacks, is expected to improve its financial leverage. These elements, combined with the anticipated benefits from trade accrual timing and a favorable fiscal calendar, underpin the Buy rating with a price objective of $61.