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Morgan Stanley Expects Solid Q1 Earnings From General Mills

Benzinga · 09/13/2022 14:06
  • Morgan Stanley analyst Pamela Kaufman has REITERATED AN UNDERWEIGHT RATINGon 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.