J.M. Smucker (SJM) PT Lowered to $110 at Stifel: Earnings Should Grow in FY27

Stifel analyst Matthew Smith lowered the price target on J.M. Smucker (NYSE: SJM) to $110.00 (from $115.00) while maintaining a Hold rating.

The analyst commented, "Smucker reported an in line second quarter featuring 5% comparable sales growth and EPS of $2.10, down 24% from the prior year primarily due to coffee volume deleverage with the company offsetting significantly higher green coffee costs through pricing. The composition of the quarter was slightly different with a softer profit performance for the Sweet Baked Snacks and Frozen Handhelds and Spreads segments more offset by better than expected elasticities in Coffee and continued momentum in the Away From Home business. Smucker narrowed its FY26 guidance ranges for sales and EPS; the tailwind from less unfavorable coffee elasticities is mostly offset by a softer profit performance in Sweet Baked Snacks and Frozen Handheld and Spreads. The base business momentum exiting the year and lower tariff costs, should support robust earnings growth in FY27 even as the company continues to invest to maintain momentum. We continue with our Hold rating."

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