BofA raised the firm’s price target on J.M. Smucker (SJM) to $120 from $105 and keeps a Neutral rating on the shares after raising the firm’s Q1 and FY26 adjusted EPS estimates as better coffee fundamentals result in higher volume forecasts for the quarter, driving better coffee sales and profits. However, potential upside in earnings from better coffee elasticities could be offset by a larger tariff related headwind related to Brazilian imports, the analyst added.
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