Why General Mills' Surprise Pet Win Isn't Calming Investor Jitters

Shares of General Mills Inc. (NYSE:GIS) remained under pressure on Thursday, despite the company’s upbeat fiscal fourth-quarter earnings report on Wednesday.

The announcement came amid an exciting earnings season. Here are some key analyst takeaways.

RBC Capital Markets On General Mills

Analyst Nik Modi upgraded the rating from Sector Perform to Outperform, while reducing the price target from $67 to $63.

General Mills reported North America Pet segment organic growth of 3%, ahead of Street expectations of a decline of 2%, Modi said in the upgrade note. For the first time, management indicated plans to enter the fresh pet food segment through the planned launch of Blue Buffalo Love Made Fresh in ...