Stifel upgraded J.M. Smucker to Buy from Hold with an unchanged $135 price target. The analyst notes that the company’s base business momentum is supported by a stable of strong brands driving a balanced topline growth including volume/mix growth, making it a standout relative to its packaged foods peers. The firm further states that the J.M. Smucker’s current valuation is “compelling”, with FY25 outlook implying a below-algo growth year, while it remains “confident” in the growth potential of J.M. Smucker business.
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