BofA lowered the firm’s price target on J.M. Smucker (SJM) to $125 from $145 and keeps a Neutral rating on the shares. The firm updated its model to reflect the completion of the acquisition of Hostess Brands (TWNK) on November 7 and the completion of its Sahale Snacks divestiture on November 1 as update its Q2 sales composition given recent trends in Nielsen scanner data.
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