UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on J.M. Smucker Company on Continued Upside
In a report published Monday, Deutsche Bank reiterated its Buy rating on J.M. Smucker Company (NYSE: SJM), and slightly raised its price target from $96.00 to $97.00.
Deutsche Bank 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.”
J.M. Smucker Company closed on Friday at $89.16.
Latest Ratings for SJM
|Sep 2015||Credit Suisse||Maintains||Outperform|
|Sep 2015||Tigress Financial||Reiterates||Buy|
|Aug 2015||Credit Suisse||Upgrades||Neutral||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.