Goldman Sachs Upgrades J.M. Smucker (SJM) to Buy, Sees Strong EPS and Cash Returns
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Price: $102.38 -1.23%
Rating Summary:
4 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
4 Buy, 7 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade SJM Now!
Goldman Sachs upgraded J.M. Smucker (NYSE: SJM) from Neutral to Buy with a price target of $90.00 (from $85.00).
The firm is telling clients to buy the stock as it will benefit from an advantaged cost profile, underappreciated end-user demand growth and best-in-class cash returns to shareholders.
"SJM's input cost outlook remains favorable given high coffee and peanut exposure – an attribute that is becoming increasingly scarce," the analyst comments. "And its heavy exposure to the coffee category’s secular premiumization trend offers a sustained sales growth advantage. Price growth will ebb and flow with inputs, but SJM is equipped to deliver above average volume/mix sales growth."
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 $76.70 yesterday, with a 52 week range of $66.43-$81.97.
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The firm is telling clients to buy the stock as it will benefit from an advantaged cost profile, underappreciated end-user demand growth and best-in-class cash returns to shareholders.
"SJM's input cost outlook remains favorable given high coffee and peanut exposure – an attribute that is becoming increasingly scarce," the analyst comments. "And its heavy exposure to the coffee category’s secular premiumization trend offers a sustained sales growth advantage. Price growth will ebb and flow with inputs, but SJM is equipped to deliver above average volume/mix sales growth."
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 $76.70 yesterday, with a 52 week range of $66.43-$81.97.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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