General Mills price target lowered to $45 from $53 at Piper Sandler

Piper Sandler analyst Michael Lavery lowered the firm’s price target on General Mills (GIS) to $45 from $53 and keeps an Overweight rating on the shares. The firm believes the company continues to have “green shoots of progress,” with household penetration growing, baseline sales trends improving, distribution growing, and improving market share. These are encouraging and important indicators of long-term growth potential, but even if 2027 organic revenue growth improves, offsetting headwinds likely constrain any EPS growth, argues Piper.