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Upgrade Alert for General Mills (GIS)

By David Diaz

General Mills (NYSE:GIS) was upgraded from Underperform to Neutral at BofA/Merrill today. The stock closed yesterday at $71.32 on volume of 12.3 million shares, above average daily volume of 3.8 million.

Over the past year, General Mills has traded in a range of $47.43 to $67.70 and closed yesterday at $71.32, 50% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

General Mills, Inc. manufactures and markets branded and packaged consumer foods worldwide. The Company also supplies branded and unbranded food products to the foodservice and commercial baking industries.

General Mills (NYSE:GIS) is currently priced 18.4% above its average consensus analyst price target of $58.20. General Mills shares have support at the 50-day moving average (MA) of $61.61 and additional support at the 200-day MA of $58.27.

SmarTrend recommended that subscribers consider buying shares of General Mills on May 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.26. Since that recommendation, shares of General Mills have risen 7.3%. We continue to monitor GIS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades General Mills

Ticker(s): GIS