11:08 AM EDT, 09/18/2025 (MT Newswires) -- General Mills' ( GIS ) fiscal Q2 growth is "likely to remain challenged" with a 3% decline expected in North American retail, UBS Securities said Wednesday in a report.

International growth may also decline after a temporary benefit in fiscal Q1, and the pet segment is expected to little changed amid "flattish consumption trends," UBS said.

The company needs H2 growth of more than 2% to achieve the midpoint of its full-year outlook, the report said.

"We think the risk/reward continues to skew to the downside," the report said.

UBS cut its price target on General Mills ( GIS ) stock to $47 from $49 and maintained its sell rating.

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