General Mills (GIS) PT Lowered to $63 at BofA Securities

BofA Securities analyst Peter Galbo lowered the price target on General Mills (NYSE: GIS) to $63.00 (from $68.00) while maintaining a Buy rating.

The analyst commented, "We maintain our 4Q25 adj. EPS of $0.71, while lowering our organic sales comp for the quarter from -2.2% to -3.6% mainly driven by lower NA Retail scanner data. We also lower FY26E EPS from $4.12 to $3.80 which accounts for 1) US yogurt divestiture expected to close end of June ~$0.18/sh net impact of share repos and 2) lower margins vs previous model on further reinvestment (~$0.14/sh hit). GIS has recently noted that FY26 is likely to be 2H weighted with volume improvement outpacing dollar improvement in organic sales, thus we still expect organic sales to decline next year while modeling volume stabilization. Reiterate Buy rating and lower our PO to $63 from $68 still based on 16x our CY26E EPS to reflect our lowered estimates."

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