The Dividend Daily

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.