Royal Bank of Canada Raises General Mills Price Target to $45.00

Royal Bank of Canada has reaffirmed its 'outperform' rating for General Mills (NYSE:GIS), indicating a potential upside of 24.03% from the company's previous close. The bank currently has a $45.00 target price on the stock.

The analysts at Royal Bank of Canada join several other research firms in their assessment of General Mills. In recent reports, TD Cowen dropped its price objective for GIS to $31.00 and set a 'hold' rating, while Evercore set a $38.00 price objective. Morgan Stanley dropped its target price from $37.00 to $32.00 and set an 'underweight' rating.

Of the 21 analysts covering General Mills, four have given the stock a 'buy' rating, ten have given it a 'hold' rating, and six have given it a 'sell' rating. The consensus rating among analysts is currently 'reduce', with an average price target of $36.41.

General Mills has reported earnings per share (EPS) of $0.95 for the quarter, beating analyst estimates by $0.15. The company's revenue was up 1.2% year-over-year to $4.61 billion.