Goldman Sachs Downgrades General Mills (GIS) to Sell
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Goldman Cuts General Mills (GIS) to Sell; Lack of Innovation to Hit Key Cereal Segment
January 11, 2013 12:06 PM ESTGeneral Mills (NYSE: GIS) is seeing some pressure today after Goldman Sachs slapped a Sell rating on the stock, cutting its 12-month price target from $42 down to $40.
As reported earlier, Goldman thinks General Mills has a product-cycle issue with its U.S. retail portfolio that appears overextended. The U.S. portfolio is comprised 23 percent by cereal, 20 percent by Meals, 18 percent by Pillsbury, 14... More
