We recently published 10 Stocks On Jim Cramer’s Mind & His Thoughts On Enterprise AI. General Mills, Inc. (NYSE:GIS) is one of the stocks on Jim Cramer’s mind.
General Mills, Inc. (NYSE:GIS) is one of the largest consumer food products companies in America. Its shares are down by 26% over the past year and by 2.4% year-to-date. The firm provided an update to its fiscal year 2026 estimates earlier this week. The update wasn’t comforting for investors as it saw General Mills, Inc. (NYSE:GIS) increase its annual sales drop guidance to 1.5% to 2% from an earlier range of a 1% drop to a 1% growth. The firm also expects its operating profit and earnings per share to drop between 16% to 20% from an earlier 10% to 15%. Following the update, Bank of America reduced General Mills, Inc. (NYSE:GIS)’s share price target to $55 from $61 and set a Buy rating. BofA commented that the current valuation is an adequate reflection of the short-term pressures on the North American retail market. In mid-January, Bernstein had cut General Mills, Inc. (NYSE:GIS)’s share price target to $53 from $54 and kept a Market Perform rating. Cramer briefly commented on the update and recalled a past where the firm was different:
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“General Mills which by the way reported a, they did a preannouncement, you don’t want to be there, that the benchmark of bad, but that’s at 12 times earnings.
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Disclosure: None. This article is originally published at Insider Monkey.
