Stock price when the opinion was issued
At 13X forward earnings for a staples company and with a long-term outlook, we think an investor will do fine with General Mills (GIS). However, there is not much growth at the business currently and we think an investor can wait a bit for some better positive momentum before getting too serious with with a name like this.
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Their outlook is dimming as the wider economy weakens, and they're shifting to more value-oriented products for pets. He thought pet food was a more reliable product category but now this is can be slippery.