Morgan Stanley downgraded J.M. Smucker (SJM) to Equal Weight from Overweight with a price target of $105, down from $115. The firm says the U.S. food sector faces rising competitive risk as value-focused pricing, promotions, and private label momentum reaccelerate into 2026. These add to “already present” sales pressures and limit the scope for margin recovery, the analyst tells investors in a research note. Morgan Stanley downgrades J.M. Smucker following a period of solid relative share outperformance.
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