Futures muted, Lowe's to report, Bitcoin jumps - what's moving markets

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J.M. Smucker (SJM) PT Raised to $137 at CFRA

February 27, 2024 12:39 PM EST

CFRA analyst Arun Sundaram raised the price target on J.M. Smucker (NYSE: SJM) to $137.00 (from $131.00) while maintaining a Hold rating.

The analyst comments "We lift our 12-month target $6 to $137, 13.5x our FY 25 (Apr.) EPS of $10.16 (up from $10.04; FY 24's raised to $9.76 from... More

AutoZone (AZO) PT Raised to $3,200 at CFRA, 'We...like AZO's robust international growth'

February 27, 2024 12:04 PM EST

CFRA analyst Garrett Nelson raised the price target on AutoZone (NYSE: AZO) to $3,200.00 (from $3,000.00) while maintaining a Buy rating.

The analyst comments "We lift our 12-month target to $3,200 from $3,000, based on a FY 25 (Aug.) P/E of 19.0x, a premium to... More

J. M. Smucker (SJM) rises on earnings, revenue beat

February 27, 2024 9:09 AM EST

J. M. Smucker (NYSE: SJM) reported a stronger-than-expected third quarter, with adjusted earnings per share (EPS) of $2.48, surpassing the analyst estimate of $2.27. Revenue also exceeded expectations, coming in at $2.23 billion against the consensus estimate of $2.22 billion. The company's stock responded positively to the news, climbing 1.6%.

The increase in net sales by $12.9 million, or 1%, was attributed to organic growth and strategic acquisitions, despite divestitures and foreign currency exchange headwinds. When excluding these factors, net sales saw a 6% increase. The growth was primarily driven by volume/mix, which rose by 4 percentage points, led... More