General Mills downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded General Mills citing valuation and limited upside to FY14 consensus estimates given the weak U.S. retail environment. Wells lowered its price target range for shares to $48-$50 from $53-$55.
News For GIS From The Last 14 Days
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General Mills on track to achieve FY targets, sees FY14 adjusted EPS $2.87-$2.90 Consensus is $2.91. Sees Q2 inflation rate higher than Q1. Long-term growth model includes: Net sales CAGR low single-digit, adjusted EPS CAGR high single-digit, segment operating profit CAGR mid-single digit. Comments from slides that are being presented at the Morgan Stanley Global Consumer & Retail Conference.