General Mills' Fiscal Q2 Growth 'Likely to Remain Challenged,' UBS Says
MT Newswires Live
Sep 18
General Mills' (GIS) fiscal Q2 growth is "likely to remain challenged" with a 3% decline expected in North American retail, UBS Securities said Wednesday in a report.
International growth may also decline after a temporary benefit in fiscal Q1, and the pet segment is expected to little changed amid "flattish consumption trends," UBS said.
The company needs H2 growth of more than 2% to achieve the midpoint of its full-year outlook, the report said.
"We think the risk/reward continues to skew to the downside," the report said.
UBS cut its price target on General Mills stock to $47 from $49 and maintained its sell rating.
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