General Mills Retains Buy Rating Despite Yogurt Division Sale and Lower Sales Forecasts

General Mills (NYSE:GIS) ranks among the top stocks for an early retirement portfolio. On June 18, BofA Securities maintained its Buy rating on General Mills (NYSE:GIS), but decreased its price target to $63 from $68.

BofA’s updated earnings projections, which now take into consideration the impending sale of General Mills’ U.S. yogurt division, are reflected in the price target cut. After share repurchases, the transaction is anticipated to be completed at the end of June with a net impact of about $0.18 per share.

BofA also lowered its organic sales estimates from a 2.2% loss to a 3.6% decline for the current quarter, mostly as a result of poor North American retail scanner data. That said, the firm maintained its adjusted earnings per share estimate of $0.71.

General Mills, Inc. (NYSE:GIS) is a prominent American multinational corporation known for manufacturing and promoting branded processed consumer foods that are extensively marketed through retail channels. The company stands out with its impressive portfolio of well-known brands like Nature Valley, Häagen-Dazs, and Cheerios.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

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