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