J.M. Smucker price target lowered to $105 from $118 at BofA

BofA analyst Peter Galbo lowered the firm’s price target on J.M. Smucker (SJM) to $105 from $118 and keeps a Neutral rating on the shares. The FY26 financial outlook was well below expectations, which drove yesterday’s negative share price reaction, the analyst tells investors. Following yesterday’s report, the firm’s FY26 and FY27 adjusted EPS forecasts move lower to $9.00 and $9.75 from $10.05 and $10.95, respectively, to better reflect coffee dynamics and increased investments, the analyst noted.