As previously reported, Argus downgraded J.M. Smucker (SJM) to Hold from Buy with no price target While the company is working to offset commodity inflation and supply-chain challenges with price hikes and improved productivity, the price hikes are further pressuring volume, Argus states. The firm adds that stock’s forward earnings multiple of 12-times is below peer average of 17-times, the valuation is reasonable given the inflationary environment, consumer caution, and green coffee pressures.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SJM:
- J.M. Smucker downgraded to Hold from Buy at Argus
- Hold Rating for JM Smucker Amid Mixed Earnings and Market Uncertainty
- J.M. Smucker’s Mixed Earnings Call: Coffee Shines Amid Challenges
- Early notable gainers among liquid option names on August 29th
- J.M. Smucker price target lowered to $126 from $129 at JPMorgan