TD Cowen raised the firm’s price target on J.M. Smucker to $136 from $133 and keeps an Outperform rating on the shares. The firm raised its estimates following a strong 2Q. Management tamped down EPS guidance for 2024 to reflect dilution from the acquired Hostess business, but their initial guidance for 2025 suggests EPS power above consensus of $10.18 and well above the market’s pessimistic view of the Hostess transaction.
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Read More on SJM:
- JM Smucker (NYSE:SJM) Gains on Strong Q2 Performance
- J.M. Smucker cuts FY24 free cash flow view to $530M from $650M
- The J.M. Smucker Co. Announces Fiscal 2024 Second Quarter Results
- J.M. Smucker cuts FY24 adjusted EPS view to $9.25-$9.65 from $9.45-$9.85
- J.M. Smucker reports Q2 adjusted EPS $2.59, consensus $2.47