Market Overview

Bank of America Merrill Lynch Reiterates Buy Rating, $42 PT on General Mills

Share:
Related GIS
40 Stocks Moving In Friday's Mid-Day Session
Why General Mills Spent $8B On A Pet Food Company
General Mills' (GIS) CEO Jeff Harmening Discusses Acquisition of Blue Buffalo Pet Products - Call Transcript (Seeking Alpha)

In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating and $42.00 price target on General Mills (NYSE: GIS).

BofA Merrill Lynch noted, “Our 12-month price objective of $42 is based on 16.3x our CY12 EPS estimate of $2.58. Our target multiple is an 5.0% premium to the packaged food group average. We believe GIS should trade at a premium to the group given its defensive nature, higher top-line and profit growth prospects, strong portfolio, limited private label penetration, and solid execution compared to its peers. Risks to General Mills achieving our price objective are consumers trading down to private label, higher-than-expected commodity cost inflation, greater-than-expected weakness in Bakeries and Foodservice, and weaker-than-expected International sales.”

General Mills closed on Tuesday at $39.31.

Latest Ratings for GIS

DateFirmActionFromTo
Feb 2018JefferiesUpgradesHoldBuy
Jan 2018PiperJaffrayUpgradesUnderweightNeutral
Nov 2017Societe GeneraleUpgradesSellHold

View More Analyst Ratings for GIS
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings

 

Related Articles (GIS)

View Comments and Join the Discussion!