Morgan Stanley Starts J.M. Smucker (SJM) at Overweight

Morgan Stanley analyst Megan Clapp initiates coverage on J.M. Smucker (NYSE: SJM) with a Overweight rating and a price target of $123.00.

The analyst comments: "We believe SJM is well positioned to deliver solid growth vs. center of store peers given its focused portfolio of leading brands in relatively attractive categories while we believe valuation is too low considering visibility to continued Uncrustables momentum, expected resiliency to coffee inflation, and early signs of underlying Hostess stabilization. We see an attractive 3:1 bull/bear skew with a $123 PT."

For an analyst ratings summary and ratings history on J.M. Smucker click here. For more ratings news on J.M. Smucker click here.

Shares of J.M. Smucker closed at $109.70 yesterday.

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