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<ul>
	<li>Credit Suisse&nbsp;analyst Robert Moskow&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/GIS/analyst-ratings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reiterated a Neutral rating</a>&nbsp;on the shares of&nbsp;General Mills Inc&nbsp;GIS and raised the price target to $77 from $74.</li>
	<li>Contrary to the expectations, Q1 FY23 gross margin turned expansionary in the quarter, owing to strong elasticity and less bad operating deleverage.</li>
	<li>The company did not raise its inflation outlook by a material amount, noted Moskow.</li>
	<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/09/28947253/general-mills-q1-eps-tops-estimate-raises-outlook" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">General Mills Boosts FY23 Outlook Post Q1 Results</a></li>
	<li>The analyst thinks General Mills&#39; performance was better than its peers, including,&nbsp;Kraft Heinz Co&nbsp;KHC,&nbsp;Hormel Foods Corp&nbsp;HRL, and&nbsp;McCormick &amp; Company Inc&nbsp;MKC, which recently warned about higher costs in Q3.</li>
	<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/09/28789057/mccormick-co-shares-drop-after-gloomy-outlook" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">McCormick Shares Drop After Gloomy Outlook</a></li>
	<li>In addition to the outlook boost, the company has a lot of flexibility to ramp up its profit guidance again, if merited, noted Moskow.</li>
	<li>Sales growth deceleration from consumer mobility and elasticity of demand from higher pricing represents the main risk to the target price, said the analyst.</li>
	<li>Price Action:&nbsp;GIS shares are trading higher by 1.43% at $80.86 on the last check Thursday.</li>
	<li>Photo Via Company</li>
</ul>

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