J.M. Smucker (SJM) PT Lowered to $121 at UBS

UBS analyst Peter Grom lowered the price target on J.M. Smucker (NYSE: SJM) to $121.00 (from $130.00) while maintaining a Buy rating.

The analyst commented, "SJM reported a slight 1Q miss as slightly stronger sales relative to consensus was offset by weaker GM with the company's FY26 EPS outlook for the year unchanged. With sentiment having improved considerably heading into the print and with the quarter itself falling short of elevated expectations, we were not surprised to see shares trade lower on the day (-4.4% vs. the XLP of +0.3%). While there were many moving pieces on the print as well as the company's outlook for the year, we do not necessarily view the print as thesis changing and in some ways believe that with the updated tariff impacts now embedded in the guidance, investors can once again refocus on fundamentals, which remain better than many center store Packaged Food peers. Much of the catalyst path will continue to hinge on the top line trajectory and whether coffee elasticities continue to hold in better than expected, but with visibility to at least +MSD organic growth driven by improvement across all segments (not only Coffee pricing) and shares still trading at ~11.5x our revised NTM EPS estimate, we believe the risk/reward skews to the upside from here."

You May Also Be Interested In

• UBS Downgrades Planisware SA (PLNW:FP) to Neutral
• Jefferies Upgrades Kingspan Group PLC (KSP:ID) to Buy
• BofA Securities Starts Kanzhun Ltd. (BZ) at Neutral