Citi initiated coverage of J.M. Smucker with a Buy rating and $153 price target. The analyst sees a variety of sales and earnings growth drivers for Smucker, including continued double-digit growth at Uncrustables and accretion from recently acquired Hostess Brands. There is a negative correlation between food multiples and debt loads, so the company’s multiples could also benefit from planned debt reduction, the analyst tells investors in a research note.
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Read More on SJM:
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