UPDATE: Gabelli Downgrades J.M. Smucker to Hold

Gabelli is out with its report today on J.M. Smucker SJM, downgrading SJM from Buy to Hold. In a note to clients, Gabelli writes, "SJM faces several challenges going into FY2012, although the earnings guidance is achievable, we are changing our recommendation to a Hold based on valuation and potential 2H challenges." At the time of posting, shares of SJM were trading at $77.85, down 0.36% from Thursday's close.
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Posted In: Analyst ColorAnalyst RatingsConsumer StaplesGabelliJ.M. SmuckerPackaged Foods & Meats
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