Goldman Sachs Upgrades General Mills (GIS) and Adds to 'Conviction Buy List'; Buy Ahead of Above-Consensus Acceleration

Goldman Sachs upgraded General Mills (NYSE: GIS) from Neutral to Buy with a price target of $44.00.

Goldman analyst says, "We are upgrading GIS and adding it to our Conviction Buy List. The fundamental outlook for Food has improved for 2012 and GIS is poised in our view to lead the group higher. Buy GIS as a high-quality company well positioned to experience accelerating fundamental strength as its comparison issues fade and it proves an early and sizeable benefactor of abating inflation pressure. We forecast above peer group-average gross margin expansion and volume growth for GIS in CY2012. We see this fundamental strength fueling above-consensus earnings growth and momentum driving its valuation back to peer group-average levels."

For more ratings news on General Mills click here and for the rating history of General Mills click here.

Shares of General Mills closed at $39.31 yesterday.

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