JP Morgan's Potential Pair Trade In Packaged Food Stocks
JP Morgan rated two packaged food stocks Wednesday morning. The firm upgraded J M Smucker Co (NYSE: SJM) from Neutral to Overweight and downgraded Hershey Co (NYSE: HSY) from Overweight to Neutral, while raising price targets on both stocks.
The firm expects J M Smucker to rise to $117 (closed Tuesday at $104.19) and Hershey to reach $116 (closed at $110.38).
Citigroup also sees J M Smucker as a Buy, while Credit Suisse (Neutral) and Morgan Stanley (Equal-weight) are less bullish.
Regarding Hershey, Wells Fargo recently upgraded it to Outperform, Goldman Sachs promoted it to Neutral (from Sell) and Deutsche Bank reiterated a Buy.
Latest Ratings for SJM
|Sep 2016||Credit Suisse||Downgrades||Outperform||Neutral|
|Aug 2016||Deutsche Bank||Maintains||Buy|
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