J.M. Smucker price target lowered to $105 from $119 at Barclays

Barclays lowered the firm’s price target on J.M. Smucker (SJM) to $105 from $119 and keeps an Equal Weight rating on the shares following the earnings report. The firm appreciates the operating environment has become more challenging for J.M. Smucker and the entire industry the past quarter or two and that not all dynamics leading to the company’s well below originally suggested fiscal 2026 guidance “are within its sphere of influence.” However, Barclays understands the post-earnings selloff yesterday and says assumptions for “historical” coffee elasticity despite more pricing and stabilizing Sweet Baked Goods sales in the second half of fiscal 2026 remain concerns.