Deutsche Bank Raises Price Target On General Mills Ahead of Earnings

Deutsche Bank's Mario Conteras raised General Mills' GIS price target from $62.00 to $63.00 while reiterating the company's hold rating. Conteras praised the company's investments in on-trend products, cost-cutting initiatives and product portfolio re-shapement as "logical." The analyst worried, however, the initiatives have not "yielded favorable results" as the analyst remained "skeptical on whether the company's long term targets are achievable" At the time of writing, General Mills traded at $66.49, up 0.14% Thursday.