J.M. Smucker reinstated with an Equal Weight at Barclays

Barclays analyst Andrew Lazar reinstated coverage of J.M. Smucker with an Equal Weight rating and $165 price target. The analyst views the recently closed pet food transaction between J.M. Smucker and Post Holdings as mutually beneficial. Smucker is left with a more focused, profitable, and faster growing portfolio, the analyst tells investors in a research note.