Wells Fargo analyst Chris Carey lowered the firm’s price target on General Mills (GIS) to $70 from $77 and keeps an Equal Weight rating on the shares. The firm likes the diversification to pet with the acquisition of Whitebridge Pet Brands’ North American premium Cat feeding and Pet treating business for $1.45B as well as the growth potential, though may make the North American Yogurt dilution a bit worse, the analyst tells investors in a research note.
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