Morgan Stanley lowered the firm’s price target on General Mills (GIS) to $49 from $51 and keeps an Underweight rating on the shares. General Mills’ Q4 results were better-than-expected, though “lower quality,” the analyst tells investors. While a wider than typical EPS range “may provide some cushion” and sequential volume share improvements are “encouraging,” the stock’s relative valuation is “not cheap” and the firm would like to see some market share improvements to have confidence underwriting a significant margin recovery, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GIS:
- General Mills’ Earnings Call Highlights Growth and Challenges
- General Mills price target lowered to $53 from $58 at Goldman Sachs
- Shell denies deal talks with BP, Micron reports Q3 beat: Morning Buzz
- General Mills upgraded, Trade Desk downgraded: Wall Street’s top analyst calls
- General Mills price target lowered to $56 from $65 at Stifel