BofA analyst Peter Galbo lowered the firm’s price target on General Mills (GIS) to $63 from $68 and keeps a Buy rating on the shares. The firm maintains its Q4 adjusted EPS forecast of 71c, while lowering its organic sales comp for the quarter from down 2.2% to down 3.6%, mainly driven by lower North American Retail scanner data, the analyst tells investors. The firm also lowered its FY26 EPS forecast to $3.80 from $4.12 to accounts for the U.S. yogurt divestiture expected to close end of June and lower margins due to further reinvestment.
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