Market Overview

I think you’ll love what you hear,
what you’ll see and the opportunities
that will be set before you.
- Jon Najarian
GET TICKETS

UPDATE: Goldman Sachs Downgrades General Mills to Sell on Sales and Earnings Risk

Share:

Goldman Sachs downgraded General Mills (NYSE: GIS) from Neutral to Sell and lowered the price target from $42.00 to $40.00.

Goldman Sachs commented, "We downgrade GIS to Sell from Neutral with a $40, 12-month price target for 4% downside vs. coverage at 6% upside, as we expect underperformance relative to our sector as EPS falls short of consensus on lower sales growth and reinvestment. We believe GIS has a product cycle issue with a US retail portfolio that appears over-extended. We believe either retailer- or manufacturer-led pruning is inevitable and likely to result in continued share losses. Data suggest that (1) this is under way in non-Greek yogurt and likely to impair its recovery in the yogurt category and (2) the cereal portfolio is at risk. We cut out-year estimates as a result but raise this year after the 2Q beat."

General Mills closed at $41.60 on Thursday.

Latest Ratings for GIS

DateFirmActionFromTo
Mar 2019MaintainsNeutralNeutral
Mar 2019MaintainsEqual-WeightEqual-Weight
Mar 2019MaintainsMarket PerformMarket Perform

View More Analyst Ratings for GIS
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (GIS)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
CINFReiterates120.0
HARPAssumes
CLLSAssumes
XLRNAssumes
FLWSUpgrades22.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Bank of America Downgrades Targa Resources on Valuation, Lack of Catalysts

UPDATE: JP Morgan Downgrades Standard Pacific Corp to Underweight on Valuation