UPDATE: Goldman Sachs Downgrades General Mills to Neutral

Goldman Sachs is out with its report today on General Mills GIS, downgrading GIS from Buy to Neutral. In a note to clients, Goldman Sachs writes, "We are downgrading General Mills to Neutral from Buy and lowering our 12-month price target by $2 to $42. Our downgrade reflects our view that US volume and market share weakness could persist in FY12 as GIS faces challenges in three of its key categories – yogurt, cereal and soup." Shares of GIS closed Wednesday at $37.73, down 1.44% from Tuesday's close.