Wells Fargo Updates 2026 Assumptions, Lowers General Mills (GIS) Price Target

Core Viewpoint - General Mills, Inc. (NYSE:GIS) is recognized as one of the best consumer staples dividend stocks to invest in currently, despite recent adjustments in price targets by analysts [1][2]. Financial Performance - General Mills reported second-quarter results that exceeded expectations for both sales and profit, driven by resilient demand as consumers opted for home-cooked meals over dining out [3]. - The company experienced strong sales in pantry staples and breakfast items, including popular brands like Pillsbury [3]. Market Sentiment and Trends - Consumer sentiment in the US showed some improvement in early December, although spending behavior remained cautious due to elevated prices and labor market uncertainties [4]. - CEO Jeff Harmening described the operating environment as volatile but noted improved momentum in the first half of the year [4]. Analyst Ratings and Price Target - Wells Fargo lowered its price target for General Mills from $51 to $49 while maintaining an Equal Weight rating, attributing the adjustment to a broader model aggregation rather than company-specific changes [2].