TD Cowen analyst Robert Moskow lowered the firm’s price target on J.M. Smucker to $140 from $150 and keeps a Buy rating on the shares. The firm met with management whose emphasis on softness in consumer demand for snack cakes and coffee is consistent with the trends in our tracking data. The lower target reflects a lower valuation multiple for slower top-line growth but they continue to view the company as well-positioned longer term.
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