01:12 PM EDT, 03/19/2024 (MT Newswires) -- General Mills ( GIS ) will report fiscal Q3 results in line with expectations "without any major surprises," RBC Capital Markets said in a note.

The company's risk to reward profile remains neutral as its fundamentals have not changed despite the stock seeing slight upward movement in the past two weeks, according to the note.

The firm said the delay in volume recovery due to pressure on consumers will impact General Mills' ( GIS ) pet segment and shipments for the business will trail consumption because of inventory adjustments by retailers.

"We would not expect General Mills ( GIS ) to lower its fiscal year guidance during this earnings cycle," RBC added.

RBC had a sector perform rating and a $72 price target for General Mills ( GIS ). The company will report its fiscal Q3 earnings on March 20.

Price: 68.15, Change: +0.40, Percent Change: +0.60