Market Buzz: General Mills Beats Estimates; Bullish View on IBM
- September 20th, 2023
- 740 views
General Mills, Inc. (NYSE: GIS), a notable food products manufacturer, reported first-quarter fiscal 2024 adjusted earnings of $1.09 per share, surpassing the consensus EPS estimate of $1.08. Additionally, its quarterly sales amounted to $4.90 billion, slightly exceeding analysts' revenue projection of $4.88 billion for the period.
$GIS was trading at $66.50 in pre-market, up $0.62 (+0.94%).
In other news, RBC Capital Markets has initiated coverage on International Business Machines Corporation (NYSE: IBM), a renowned technology and innovation company, with an Outperform rating and a price target of $188.
While $IBM closed at $146.52 on Tuesday, the assigned price target suggests a potential upside of $41.48 or approximately 28.34%, as per RBC Capital Markets' analysis.
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