General Mills (GIS) PT Raised to $43 at BofA Securities

BofA Securities analyst Peter Galbo raised the price target on General Mills (NYSE: GIS) to $43.00 (from $39.00) while maintaining a Neutral rating.

The analyst comments "Yesterday, we hosted a virtual fireside chat with General Mills (GIS) CFO Kofi Bruce and VP of IR Jeff Siemon. GIS category performance and Nielsen trends are tracking modestly better than expected early in FY27 based on data we see, though it remains too early to extrapolate these trends through the year. GIS also expects mix to improve as product renovation, innovation and growth in accretive platforms contribute, with NAR price/mix expected to move from roughly flattish in 1Q to positive over the balance of FY27. Separately, the Thanksgiving calendar shift should to create a ~1pt organic sales headwind in 2Q and a corresponding ~1pt tailwind in 3Q, with no full-year impact. Reiterate Neutral but raise our PO to $43 (from $39), now based on 13.5x (prior 12.5x) our CY27 EPSe, as broader NAR sales and share improvement reduces downside risk and provides greater visibility into stabilization, balanced by continued execution risk in Pet."

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