J.M. Smucker (SJM) Price Target Raised to $130 at KeyBanc

KeyBanc maintained an Overweight rating on J.M. Smucker (NYSE: SJM) and raised its price target to $130.00 (from $120.00). The change follows Q4 results. Analyst Akshay S. Jagdale noted full year guidance was below consensus but he remains positive on the stock.

"Although FY16 EPS guidance was set slightly below consensus expectations, we see several reasons to own the stock – accretion from the Big Heart acquisition, incremental earnings from Dunkin Donuts K-Cups and a declining commodity cost environment. Additionally, we are encouraged by the Company's new cost-cutting initiative. As such, we are reiterating our Overweight rating and raising our PT to $130," said Jagdale.

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 $113.75 yesterday.

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