Stifel analyst Matthew Smith lowered the firm’s price target on General Mills to $72 from $86 and keeps a Buy rating on the shares after the company reiterated its FY24 guidance and discussed trends impacting its North America Retail and Pet businesses at an investor conference. Following the event, the firm is lowering its revenue and profit estimates for the Pet business in FY24, reflecting the company’s first quarter update and outlook.
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Read More on GIS:
- General Mills sees share repurchases reducing shares outstanding by 3% in FY24
- General Mills sees FY24 Holistic Margin Management cost savings to 4%
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- General Mills backs FY24 EPS view to increase 4 -6%, consensus $4.50
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