General Mills price target lowered to $37 from $45 at TD Cowen

TD Cowen lowered the firm’s price target on General Mills (GIS) to $37 from $45 and keeps a Hold rating on the shares. The firm noted they missed 3Q EPS but maintained guidance as they expect inventory headwinds to largely reverse in 4Q. Management said they are finished with price adjustments to improve affordability. However, Cowen lowered estimates for FY27 EPS to reflect margin pressure from incentive comp, weak sales, and rising costs which they are unlikely to offset with price increases.