RBC Capital Remains Bullish Following General Mills' (GIS) 1Q Release
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RBC Capital reiterated an Outperform rating and $73.00 price target on General Mills (NYSE: GIS) following the comany's 1Q earnings report. Much of yesterday's earnings call was dedicated to the discussion of a troubling revenue decline in fiscal 1Q and the reasons for improving trends for the rest of FY17.
Analyst David Palmer commented, "We are maintaining our FY17 earnings estimates after the company's F1Q results. We will be watching Mills trends closely to see if its segmentation approach and new product news leads to a firming up in base sales trends and positive EPS revisions (the key stock driver)."
Shares of General Mills closed at $65.26 yesterday.
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