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UPDATE: Deutsche Bank Reiterates JM Smucker at Buy, Raises PT

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J.M. Smucker: High Dividend Growth But Low Yield (Seeking Alpha)

In a report published Tuesday, Deutsche Bank reiterated its Buy rating on The JM Smucker Company (NYSE: SJM), and raised the price target from $91 to $93.

In the report, Deutsche Bank wrote, "Leading brands, share gains, productivity, a solid balance sheet, and 6-7% C2013E FCF yield are positives that support our BUY opinion. Input cost moderation could help earnings. In either case, we see valuation as attractive when accounting for $0.60 non-cash goodwill EPS impact. Our new $93 (from $91) target price is based on 3 methodologies, equally weighted to determine valuation (incl. DCF, our IVCC framework, traditional P/E). Please see details in this report. Risks include: commodity prices (coffee, peanuts, grain, energy), competition (branded, private label), family management/control, M&A integration."

Smucker closed at $87.05 on Tuesday.

Latest Ratings for SJM

DateFirmActionFromTo
Mar 2017BernsteinDowngradesMarket PerformUnderperform
Feb 2017Deutsche BankInitiates Coverage OnHold
Dec 2016Bank of AmericaInitiates Coverage OnNeutral

View More Analyst Ratings for SJM
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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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