BofA Securities Upgrades J.M. Smucker (SJM) to Buy

BofA Securities analyst Bryan Spillane upgraded J.M. Smucker (NYSE: SJM) from Neutral to Buy with a price target of $130.00.

The analyst comments "Post CAGNY, we upgrade JM Smucker (SJM) shares to Buy from Neutral and raise our price objective to $130 (from $120), now based on 12.5x CY27 EPSe (prior 11.5x). Our prior Neutral rating reflected skepticism around the Hostess acquisition, which we now view as largely de‑risked. We see an attractive 12‑month setup, similar to late ‘22/early ‘23, when we last rated SJM Buy. Ahead of 3Q26 earnings on 2/26, we expect guidance to be maintained, but our call centers on the path to FY27, where we believe $10 EPS is achievable, with potential upside from coffee‑driven margin expansion. Importantly, SJM emphasized at CAGNY that M&A is “not an active strategic focus” and signaled that share buybacks could become more meaningful once leverage targets are met."

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 $110.38 yesterday.

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