General Mills price target lowered to $71 from $84 at Piper Sandler

Piper Sandler analyst Michael Lavery lowered the firm’s price target on General Mills (GIS) to $71 from $84 and keeps an Overweight rating on the shares. The firm notes General Mills has several top-line growth headwinds in Q3 in both NAR and Pet from retailer inventory de-stocking. Additionally, sell-through momentum is running soft in both segments. Piper also sees possible risk from regulatory uncertainty, mainly tariffs, though risk is mostly from any retaliatory tariffs into Canada, as its products there are made in the U.S.