Goldman Sachs Downgrades J.M. Smucker on Valuation Call (SJM)
Analysts at Goldman Sachs downgraded The J.M. Smucker Company (SJM) to “Neutral” on Friday.
J.M. Smucker’s rating was lowered from “Buy” to “Neutral” by the analysts. The downgrade was a valuation call based on a $93 price target. This target is a +3.5% upside to Thursday’s closing price of $89.84.
J.M. Smucker shares were flat during premarket trading on Friday. The stock is up +16.04% over the past year.
The Bottom Line
Shares of J.M. Smucker Company (SJM) have a 2.32% dividend yield, based on last night’s closing stock price of $89.84. The stock has technical support in the $84 price area. The shares are trading at all-time highs.
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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