Goldman Sachs Downgrades J.M. Smucker (SJM) to Neutral

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Goldman Sachs downgraded J.M. Smucker (NYSE: SJM) from Buy to Neutral with a price target of $93.00 in conjunction with the lowering of its Food sector coverage view to Neutral, from Attractive.

The analyst comments, "SJM valuation has rerated higher vs. our coverage group. We believe the rerating is justified, but we believe further outperformance will be constrained over the next 12 months."

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 $89.84 yesterday, with a 52 week range of $70.50-$90.24.

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