BofA downgrades General Mills stock rating on slower recovery

BofA Securities has downgraded General Mills (NYSE:GIS) stock rating from Buy to Neutral, lowering its price target to $48 from $55 due to a slower-than-expected recovery in consumer spending and a lowered future growth outlook. The firm anticipates subdued volume and dollar improvement for General Mills over the next 12 months, waiting for potential topline stabilization in the second half of fiscal year 2027. This downgrade comes as General Mills adjusted its fiscal 2026 outlook, expecting a decline in organic net sales and adjusted operating profit and earnings per share due to a challenging consumer environment.

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