General Mills: Goldman Sees Premium Pet Food As Bright Spot For Colgate And General Mills Amid Consumer Caution

Goldman Sachs analyst Bonnie Herzog analyzed the pet food offerings to understand the category more. The following are the comments published on Thursday regarding the same.The U.S. consumer is becoming more cautious due to concerns about inflation, tariffs, and geopolitical uncertainty, impacting the broader staples sector, said the analyst.While consumer packaged goods (CPG) companies face short-term pressure, an analysis of the pet food market suggests that premium offerings from Colgate-Palmolive Co (NYSE:CL) and General Mills Inc (NYSE:GIS) are likely to remain resilient.These high-end products could support growth and help offset weaker demand in other areas, noted the analyst.The analyst reiterated a Buy rating on the shares of Colgate-Palmolive with a price forecast of $106.00. The Hill's Pet Nutrition division is expected to be a key driver of sustained mid-single-digit organic sales growth, fueled by category expansion and market share gains.Also Read: EV Maker Mullen ...Full story available on Benzinga.com