Barclays analyst Andrew Lazar maintains $JM Smucker (SJM.US)$ with a hold rating, and adjusts the target price from $121 to $126.
According to TipRanks data, the analyst has a success rate of 55.9% and a total average return of 4.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $JM Smucker (SJM.US)$'s main analysts recently are as follows:
The firm notes that J.M. Smucker's fiscal Q2 sales performance and substantial volume trends may evoke envy among its peers, especially since Smucker seems to effectively counteract the prevailing industry volume challenges, possibly enhancing its attractiveness to investors.
The company's forecast for FY25 adjusted EPS was raised following a robust performance in Q2, reflecting a positive revision in expectations. Despite the stock's valuation multiple trading at a discount compared to the average of the packaged food peer group, it aligns with center store peers. This alignment is deemed appropriate as the company effectively progresses towards its FY25 objectives, although there are execution risks associated with Hostess.
Amid concerns that J.M. Smucker may need to reduce the EPS range due to weak Hostess and Coffee inflation, the company's second quarter sales and profit beat, along with the fiscal year EPS increase, provided some relief. It is believed that although there remains work to be done, this was viewed as progress.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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