These Analysts Slash Their Forecasts On General Mills After Q1 Results
Portfolio Pulse from Lisa Levin
General Mills Inc reported Q1 FY24 sales growth of 4% YoY to $4.90 billion, beating the analyst consensus. Adjusted EPS of $1.09 also topped the consensus. The company reaffirmed its FY24 organic sales growth outlook of 3%-4%. However, Goldman Sachs and Morgan Stanley cut their price targets on General Mills following the earnings announcement.
September 21, 2023 | 3:03 pm
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Despite better-than-expected Q1 results, General Mills saw its price targets cut by Goldman Sachs and Morgan Stanley. This could potentially impact the stock's short-term performance.
General Mills reported strong Q1 results, beating estimates. However, the reduction in price targets by Goldman Sachs and Morgan Stanley, despite the positive earnings, could create a negative sentiment among investors, potentially leading to a short-term decrease in the stock price.
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