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J M Smucker's Improvements In Business Model Triggers 14% Price Target Hike By Credit Suisse

  • Credit Suisse analyst Robert Moskow reiterated a Neutral rating on the shares of J M Smucker Co (NYSE: SJM) and raised the price target from $145 to $165.

  • The analyst said Smucker’s management team provided ample evidence at its Investor Day that the company has turned a corner and become a more focused and effective operation.

  • With business momentum firmly headed in the right direction, the company has now formed a “Transformation Office” to establish a more proactive approach to productivity, the analyst added.

  • The analyst has raised the price target to reflect the improvements in the business model, which now merits a stronger valuation multiple.

  • After sharpening the marketing messaging, focusing the portfolio, and expanding the pipeline of innovation, the company has created a consistent and repeatable commercial model, the analyst cited.

  • To the analyst’s surprise, brands like Folgers, Milk-Bone, and Jif have gained traction with younger consumers with effective advertising copy through targeted mediums.

  • Through these efforts, the company gained share in 70% of its categories in its fiscal Q2.

  • An unexpectedly sharp reversal in at-home food consumption represents the biggest downside risk to the analyst’s target price, while margin recovery from higher pricing represents the biggest upside.

  • Also ReadJ M Smucker Raises Annual Guidance On Solid Q2 Earnings Beat

  • Price Action: SJM shares are trading lower by 0.61% at $153.23 on the last check Thursday.

Latest Ratings for SJM

Date

Firm

Action

From

To

Mar 2022

JP Morgan

Maintains

Neutral

Mar 2022

Morgan Stanley

Maintains

Underweight

Mar 2022

Citigroup

Maintains

Neutral

View More Analyst Ratings for SJM

View the Latest Analyst Ratings

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