Bank of America Expects Solid F1Q15 Results for General Mills

In a report published Friday, Bank of America analyst Bryan D. Spillane reiterated a Neutral rating and $55.00 price target on

. In the report, Bank of America noted, “GIS plans to report F1Q15 results on Wed, September 17th before the market opens. 1Q earnings are expected to be down slightly year on year primarily as a result of the timing of investments related to increased merchandising and new product launches. 2H15 is also expected to carry more of the earnings load as a result of 1) expectation for gradual improvement in industry trends throughout the year and 2) cost reduction efforts (incremental to HMM)—identifying capacity and overhead reductions—which are concentrated in the back half. Key elements of our forecast: Our 1Q model assumes organic sales growth of +1% (US Retail -1%, International +6%, Convenience & Foodservice flat). The Nielsen data for the latest 12 weeks ending 8/30/14 is tracking broadly in line with our US Retail forecasts.” General Mills closed on Thursday at $53.27.