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Fly News Breaks for June 30, 2016
GIS
Jun 30, 2016 | 07:28 EDT
RBc Capital believes that General Mills reported solid Q1 results. The firm thinks that the likelihood of the company being able to generate high single digit profit growth over the next 12-24 months has increased, based on accelerated cost reductions and productivity growth. The firm says that the company could beat its estimates over the medium term ,driven partly by improving cereal trends and easing yogurt comps. It raised its price target on the name to $73 from $70 and keeps an Outperform rating on the shares.
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