TD Cowen Downgrades J.M. Smucker (SJM) to Hold

TD Cowen analyst Robert Moskow downgraded J.M. Smucker (NYSE: SJM) from Buy to Hold with a price target of $121.00 (from $130.00).

The analyst comments "We lower to Hold and our FY26 EPS to $10.50 vs consensus of $10.56. It is increasingly clear that we (and management) underestimated the degree to which the acquired Hostess business had been artificially boosted by government subsidies for low-income consumers and pandemic snacking patterns. We believe that the company will need to reinvest overhead cost reductions and synergies to stabilize its 6% declines. Smucker's core business is performing well, but the Pet business, which has proven volatile in the past, is now on shakier ground given its loss of scale and tougher comparisons ahead."

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 $107.47 yesterday.

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