- 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
Global Markets Today While US Was Sleeping
On Friday, July 20, the U.S. Markets ended mixed, with Dow Jones continuing its winning streak for the tenth day. Health and utilities sectors rose, while materials and communication services lagged.
The Dow Jones Industrial Average closed higher by 0.01% at 35,227.69 on Friday; the S&P 500 was up 0.03% to 4,536.34; and the Nasdaq Composite slipped 0.22% to 14,032.80.
