General Mills price target lowered to $49 from $51 at Morgan Stanley

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.