RBC Capital initiated coverage of J.M. Smucker (SJM) with an Outperform rating and $130 price target The firm believes the stock’s valuation is “washed out” and the risk-to-reward skews positive at current levels. Smucker’s current valuation embeds a long-term growth rate that is too low, the analyst tells investors in a research note. RBC believes the company has enough initiatives in place to stabilize and eventually turn Hostess into a growth contributor.
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