General Mills To Gain Strength From Rebound In Pet Segment And Stabilizing Retail Growth, Analyst Upgrades Stock
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BofA Securities analyst Peter T. Galbo upgraded General Mills, Inc. (NYSE:GIS) to Buy from Neutral, raising the price forecast to $80 from $78.
The analyst suggests that General Mills is expected to return to organic sales growth at a faster and more sustainable rate compared to other center-store food peers.
This growth will be driven by factors such as the re-acceleration in the Pet segment (specifically Blue Buffalo) and stabilization in North America Retail, as issues in the dough category are moving behind the company, Galbo writes.
The analyst also highlights that General Mills offers investors exposure to the recovery in the U.S. Pet market and a surge in value stocks, …
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