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General Mills Restarted as an “Outperform” at Wells Fargo; Good Portfolio at an Attractive Valuation (GIS)

By Dividend.com,  October 03, 2012, 08:49:03 AM EDT

Packaged foods maker General Mills, Inc. ( GIS ) on Wednesday caught some bullish commentary from analysts at Wells Fargo.

The firm restarted coverage on GIS with an "Outperform" rating and price target range of of $46 to $47. That range suggests up to a 17% upside to the stock's Tuesday closing price of $40.12.

A Wells Fargo analyst commented, "In our view, General Mills possesses the most attractive portfolio within U.S. food and recent acquisitions enhance global growth prospects. Combined with solid management execution and rich cash returns to shareholders, Mills is a superior investment for long-term-oriented investors."

The firm also applauded the company's attractive valuation, which it says offers a solid risk/reward at current levels.

General Mills shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of General Mills ( GIS ) have a 3.29% dividend yield, based on last night's closing stock price of $40.12. The stock has technical support in the $37.50 price area. The shares are trading near all-time highs.

General Mills, Inc. ( GIS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: GIS



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