These Analysts Boost Price Targets On General Mills Following Q1 Results

General Mills Inc GIS reported better-than-expected earnings results and raised its full-year outlook on Wednesday.

General Mills now expects full-year 2023 organic net revenue to increase 6% to 7%, which is up from a previous guidance range of 4% to 5%. General Mills also raised its full-year earnings expectations from a range of flat to 3% to a range of 2% to 5%.

General Mills shares gained 5.7% to close at $79.72 on Wednesday.

These analysts made changes to their price targets on General Mills following the release of results.

• Deutsche Bank raised price target on General Mills from $81 to $88. Deutsche Bank analyst Steve Powers maintained the stock with a Buy.
• Piper Sandler boosted General Mills price target from $80 to $88. Piper Sandler analyst Michael Lavery maintained the stock with an Overweight.
• Credit Suisse increased General Mills price target from $74 to $77. Credit Suisse analyst Robert Moskow maintained a Neutral rating on the stock.
• B of A Securities boosted price target on the stock from $74 to $81. B of A Securities analyst Bryan Spillane maintained General Mills with a Neutral.