J.P. Morgan Raises Estimates, Reiterates Buy Rating On J.M. Smucker (SJM)

J.P. Morgan JPM released a research report on J.M. Smucker SJM today. Yesterday, the company reported its fiscal 4Q earnings, exceeding Wall Street estimates. EPS was $1.07 compared to analysts' expectations of $0.80. JPM analysts wrote that "it was a quality quarter across the board." J.P. Morgan raised their 2011 earnings estimates from $4.42 to $4.58 in the wake of the report. They also raised their price target on the shares from $66 to $74. The target implies 20% upside from current levels. During Friday's trading session, SJM has gained 0.88% to $62.09.