J.M. Smucker price target lowered to $150 from $158 at TD Cowen

TD Cowen lowered the firm’s price target on J.M. Smucker to $150 from $158 and keeps an Outperform rating on the shares. The firm noted the stock dropped after the 3Q call because of concerns regarding stranded overhead costs in 2025 and higher advertising. Cowen views these factors as transitory and/or overblown, and they believe the stock will recover when management gives more clarity after reporting 4Q results.