J.P. Morgan Reiterates Overweight Rating on General Mills (GIS)

J.P. Morgan is out with a research report this morning, where it reiterates its Overweight rating on General Mills GIS; it has a $43.00 price target on the stock, up from $40.00. The JPM analysts said that they expect a consensus earnings beat when GIS reports earnings on Thursday, noting that recent Nielsen Co. data shows Big G sales off 1.5% for the 12-week period, which roughly equates to Mills' Q2. The analysts are currently modeling in 70 basis point of margin compression as well. The JPM analysts said, “While the market remains quite unenthusiastic about food stocks, we continue to view General Mills stock as an opportunity for investors with a 6- to 12-month horizon.”