General Mills price target lowered to $32 from $37 at TD Cowen

TD Cowen lowered the firm’s price target on General Mills (GIS) to $32 from $37 and keeps a Hold rating on the shares. The firm lowered earnings estimates and price targets for a number of large cap food makers to reflect the likelihood of higher input costs stemming from the Iran War and limited pricing power, adding that food companies are now prioritizing debt reduction to reduce risk after substantial margin erosion in 2025. The firm adds that for a number of these companies – including Conagra (CAG), ...