Wells Fargo lowered the firm’s price target on General Mills (GIS) to $61 from $64 and keeps an Equal Weight rating on the shares. The firm notes General Mills was cautious near-term, suggesting it may need to revisit guidance if trends don’t improve. Wells is lowering 2025 EPS below guide and FY26 further. The firm’s struggle has been General Mills estimates that have been too high and as such can’t embrace low price to earnings. Sooner this ends the better, it adds.
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