J.M. Smucker price target lowered to $120 from $122 at DA Davidson

DA Davidson analyst Brian Holland lowered the firm’s price target on J.M. Smucker (SJM) to $120 from $122 and keeps a Neutral rating on the shares. The firm notes that while it appreciates the management taking corrective measures to address Hostess Brands’ underperformance, it has long been skeptical of the acquisition where the issue may have been rationale for the deal rather than execution, the analyst tells investors in a research note. Coffee inflation also remains a mounting headwind and overall Food demand remains soft, weighing on both sales and profits, the firm added.