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Bank Of America Expects Solid F1Q15 Results For General Mills, Inc.

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In a report published Friday, Bank of America analyst Bryan D. Spillane reiterated a Neutral rating and $55.00 price target on General Mills, Inc. (NYSE: GIS).

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.

Latest Ratings for GIS

DateFirmActionFromTo
Oct 2019Initiates Coverage OnSector Perform
Sep 2019MaintainsHold
Sep 2019MaintainsEqual-Weight

View More Analyst Ratings for GIS
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Posted-In: Bank of America Bryan D. SpillaneAnalyst Color Reiteration Analyst Ratings

 

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