Argus upgraded J.M. Smucker to Buy from Hold with a $170 price target. Smucker is gaining market share as at-home consumption of food and beverages continues to exceed pre-pandemic levels, the analyst tells investors in a research note. The firm says the company is also working to offset inflation and supply chain challenges with price hikes and improved productivity, and divesting slower-growing pet food brands. It believes that J.M. Smucker merits a higher valuation based on the company’s current growth prospects and efforts to divest less profitable businesses.
Published first on TheFly
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