General Mills price target lowered to $35 from $40 at UBS

UBS lowered the firm’s price target on General Mills (GIS) to $35 from $40 and keeps a Sell rating on the shares. The company reported a Q3 miss, with organic sales, gross margin, and operating margin all below expectations, and Q4 guidance suggests limited sequential improvement despite mechanical tailwinds from shipment timing and trade expense reversals, the analyst tells investors in a research note. With volume trends yet to inflect and peers focusing on affordability, category growth remains weak, and combined with unique headwinds, long-term top- and bottom-line growth through FY27 appears aspirational, UBS says.