- Morgan Stanley analyst Pamela Kaufman has reiterated an Underweight rating on the shares of General Mills Inc (NYSE:GIS) with a price target of $66.00.
- The analyst thinks the company’s Q1 earnings should be solid, supported by pricing-driven topline growth.
- But Kaufman also said that as expectations have increased, General Mills has limited potential upside with its premium valuation.
- Given the dynamic operating backdrop characterized by consumer macro uncertainty, continued elevated cost pressures, and ongoing supply chain disruption, the analyst expects the company to reaffirm its FY23 outlook.
- With softening market share in pets, growing cereal competition & ongoing cost pressures, risk/reward looks skewed to the downside, cited the analyst.
- Price Action: GIS shares are trading lower by 1.33% at $75.14 on the last check Tuesday.
- Photo Via Company
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