Deutsche Bank lowered the firm’s price target on J.M. Smucker (SJM) to $135 from $157 and keeps a Hold rating on the shares after the company announced an agreement to acquire Hostess Brands (TWNK). The analyst We understands the fundamental rationale behind the acquisition, “in theory.” However, the deal does not come cheap and adds potential integration complexities that could disrupt what otherwise appear to be relatively sound J.M. Smucker fundamentals versus peers of late, the analyst tells investors in a research note.
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Read More on SJM:
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- J.M. Smucker (NYSE:SJM) Acquires Twinkies-Owner Hostess Brands in a $5.6 Billion Deal
- Hostess Brands jumps 17% to $32.98 after J.M. Smucker acquisition proposal
- The J. M. Smucker Co. to Acquire Hostess Brands to Accelerate Focus on Convenient Consumer Occasions