BofA analyst Peter Galbo lowered the firm’s price target on General Mills (GIS) to $68 from $70 and keeps a Buy rating on the shares. The company lowered guidance given continued food industry softness and planned incremental investment spend, notes the analyst, who expects General Mills to spend “considerably more” on marketing in Q4 and the first half of FY26 in hopes of improving organic volume trends that remain subdued. The firm lowered its FY25 adjusted EPS view to $4.18 from $4.33 to reflect this, the analyst noted.
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