General Mills: On Track For FY24 Despite Challenges, But Real Momentum Expected In FY25, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Mizuho Securities analyst John Baumgartner has reiterated a Neutral rating on General Mills Inc (NYSE:GIS) and lowered the price target from $80 to $70. Despite challenges, the analyst believes GIS is on track for FY24 guidance due to modest revenue and profit upside and reduced corporate expenses. However, the analyst expects real momentum in FY25 due to strong reinvestment, on-trend innovation, and optimized promo campaigns. The EPS estimate for FY24 has been lowered to $4.49 from $4.52.
September 21, 2023 | 6:58 pm
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General Mills' stock is expected to remain neutral in the short term due to the analyst's neutral rating and lowered price target. However, the company's strong reinvestment, innovation, and promotional campaigns could drive momentum in FY25.
The analyst's neutral rating and lowered price target suggest a neutral short-term impact on General Mills' stock. However, the company's potential for growth and momentum in FY25 due to strong reinvestment, innovation, and promotional campaigns could positively impact the stock in the longer term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100