Morgan Stanley analyst Megan Alexander Clapp lowered the firm’s price target on General Mills (GIS) to $37 from $44 and keeps an Underweight rating on the shares. The Q3 EPS miss was driven by unexpected gross margin pressure and while a path to sequential organic sales growth improvement in FY27 exists, visibility to a return to growth remains limited, the analyst tells investors. The firm is lowering FY27 estimates by 8%, the analyst added.
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