General Mills Still An Opportunity For Investors, J.P. Morgan Reports

J.P. Morgan said today that it is still bullish on shares of General Mills

. “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,” J.P. Morgan writes. “We are encouraged by the way the market shook off a light quarter, and continue to see double-digit returns ahead for GIS holders in the year to come. Our 2011 target of $43 implies total returns on the 21% order, includes $1.12 in annualized dividends.” General Mills currently trades at $36.12.