Deutsche Bank Maintains Buy on General Mills

Deutsche Bank is out with its report today on General Mills GIS, maintaining Buy. In a note to clients, Deutsche Bank writes, "Our BUY opinion is based on leading share in many U.S. categories (cereal, refgd. dough, yogurt, cake mix), relatively low valuation (13.3x C2012E P/E), possible conservative volume outlook, productivity, solid FCF, and top mgmt team. The Yoplait acquisition and undervalued JVs make LT prospects compelling." Deutsche Bank maintains a $43 PT on GIS. Shares of GIS closed Wednesday at $36.88, down 0.46% from Tuesday's close.