Stifel analyst Matthew Smith lowered the firm’s price target on J.M. Smucker to $150 from $160 and keeps a Hold rating on the shares. While Smucker reported a “strong start to its fiscal year” and the firm is raising its FY24 EPS estimate to $9.69, representing nearly 9% growth, it is adjusting its price target based on an EV/EBITDA multiple that “stands at a slight premium to the company’s packaged foods peers,” the analyst tells investors.
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- J.M. Smucker Stock (NYSE:SJM) Gained After Mixed Q2 Results, Guidance Lift
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