General Mills Inc (NYSE:GIS) beat fourth-quarter earnings estimates and issued in-line fiscal 2027 guidance, but TD Cowen analyst Robert Moskow flagged concerns over the lack of visibility on when organic sales will turn positive.
The General Mills Thesis: Moskow reiterated a Hold rating and raised the price target from $31 to $32. Management indicated an improvement in sales. However, they are "hesitant on growth," he said.
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General Mills guided to organic sales growth of -1.5% to +0.5%. This implies that fiscal 2027 would be "less bad" than the disappointing 2% decline in fiscal 2026, the analyst stated.
Management sounded less confident about the high-end of this guidance range, given the slow start signaled for the first quarter and category growth expected to remain flat.
