Morgan Stanley Sees Mixed Factors For General Mills

In a report published Thursday, Morgan Stanley analyst Matthew Grainger reiterated an Underweight rating and $51.00 price target on

. In the report, Morgan Stanley noted, "Improved organic sales (+1%) were a slight positive, suggesting topline trends likely troughed in F1H15. However, we are less certain that current gross margin pressure is at an end, even with restructuring savings building in F16, and remain UW." General Mills closed on Wednesday at $52.86.