UPDATE: Jefferies Raises PT on General Mills Following 4Q13 Adjusted EPS
In a report published Thursday, Jefferies analyst Thilo Wrede reiterated a Hold rating on General Mills (NYSE: GIS), and raised the price target from $44.00 to $45.00.
In the report, Jefferies noted, “GIS reported 4Q13 adj. EPS of $0.53, 1 cent ahead of our model. Guidance for FY14 is light relative to consensus ($2.87-$2.90 vs. $2.93). We view GIS' approach to FY14 growth similar to FY13. Innovation in cereal and yogurt, growing international contributions and continued cost management are all expected to lead to better results. However, in our view, more aggressive pricing might be the most important driver for volume growth.”
General Mills closed on Wednesday at $48.33.
Latest Ratings for GIS
|Feb 2017||Deutsche Bank||Initiates Coverage On||Hold|
|Dec 2016||RBC Capital||Downgrades||Outperform||Sector Perform|
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