Goldman Sachs Raises Estimates on J.M. Smucker (SJM); Spread on the Bread

August 17, 2012 1:53 PM EDT
Get Alerts SJM Hot Sheet
Price: $134.51 +0.76%

Rating Summary:
    7 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Goldman Sachs maintains a 'Buy' on J.M. Smucker (NYSE: SJM) price target of $90.00.

Analyst, Jason English, said, "SJM this morning reported a sizeable $0.17 beat versus consensus. Contributing to the beat was a $0.09 YoY benefit from mark-to-market hedge gains and a less-than-expected increase in marketing spend. The quarter, however, was better than expected even after discounting these items, with sales and volume growth well above expectations."

"FY13/FY14/FY15 EPS estimate goes to $5.25/$5.76/$6.35, from $5.20/$5.74/$6.33. We continue to expect another earnings beat next quarter and believe this one will be accompanied by a guidance increase."

SJM shares are trading up 5.51% to $83.32 this afternoon. The stock got to $84.10, which was a new 52-wk high, before settling back slightly.

For an analyst ratings summary and ratings history on J.M. Smucker click here. For more ratings news on J.M. Smucker click here.

Shares of J.M. Smucker closed at $78.97 yesterday.

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Goldman Sachs
Leon Peris on 2012-08-17 14:46:10
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Well these guys should know.

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