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Jefferies Downgrades General Mills

By Warren Paige

Jefferies downgraded General Mills (NYSE: GIS) to “underperform” from “hold” and cut its price target to $44 from $45 0n Friday. Jefferies cited weak outlook and higher valuation. The firm also slashed its outlook on first quarter EPS , FY 2014 EPS and FY2015 EPS. For the fiscal first quarter, Jefferies cut EPS outlook to 69 cents from 70 cents. For FY 2014 EPS outlook was cut to $2.85 from $2.87 while for FY 2015 it was slashed to $2.96 from $3.03. Jefferies is concerned about GIS’s volume outlook due to sharp drop in advertising and media spending in last two years.

August 17th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.