UBS initiated coverage of J.M. Smucker (SJM) with a Buy rating and $134 price target implying 15% upside from current levels. The firm sees a high degree of visibility to positive low single digit organic revenue growth looking out over the next 12-18 months, and while coffee inflation is likely to result in earnings per share growth below the company’s high single digit long-term algorithm in fiscal 2026, this is already priced in, the analyst tells investors in a research note.
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