General Mills price target lowered to $80 from $89 at Wells Fargo

Wells Fargo analyst Chris Carey lowered the firm’s price target on General Mills to $80 from $89 and keeps an Equal Weight rating on the shares. The firm notes that General Mills’ Q4 results felt like a “shot across the bow” to the Food group and perhaps Staples at large into earnings season, with retailers tightening inventories even in consumable categories.