General Mills Analysts Increase Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
General Mills, Inc. (NYSE:GIS) reported better-than-expected Q3 FY24 results with a slight sales decline but beating analyst estimates. Adjusted EPS was $1.17, surpassing the $1.05 consensus. The company anticipates FY24 organic sales growth between -1% to 0% and adjusted EPS growth of 4% to 5%. Following the announcement, analysts from Wells Fargo, Mizuho, Stifel, JP Morgan, TD Cowen, Morgan Stanley, HSBC, and B of A Securities adjusted their price targets on General Mills.
March 21, 2024 | 6:56 pm
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General Mills reported strong Q3 FY24 results, surpassing analyst expectations, with a positive outlook for FY24. Analysts have adjusted their price targets upwards.
Despite a short-term price dip, the positive earnings report and upward revisions in price targets by multiple analysts indicate a strong outlook for General Mills. The company's strategic focus and expected growth in FY24 EPS suggest potential for stock appreciation.
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