Deutsche Bank Raises Price Target on J.M. Smucker (SJM)
Deutsche Bank reported on Tuesday that they have increased their price target on food company, The J.M. Smucker Company(SJM).
The firm has reaffirmed a “Buy” rating on SJM and has raised the company’s price target from $96 to $97. This price target suggests a 8.5% increase from the stock’s current price off $88.75.
An analyst from tne firm noted, “although Smucker is no longer our top pick, we continue to see upside based on leading brands, share gains, productivity, solid balance sheet, and 6-7% C2013 FCF yield. We view valuation, about a 15% discount to the group avg P/E, as attractive when accounting for $0.60 non-cash goodwill EPS impact.”
The J.M. Smucker shares were mostly flat during premarket trading Tuesday. The stock has increased 12.5% in the past year.
The Bottom Line‘
Shares of The J.M. Smucker Company(SJM) have a 2.34% yield, based on Monday’s closing price of $88.75.
The J.M. Smucker Company(SJM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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