The J.M. Smucker Company SJM is having its Overweight rating reiterated by JP Morgan and is having its EPS estimates raised for FY2011E to $4.61 from $4.58 and FY2012E is raised to $5.03 from $5.01.
JP Morgan has lowered its price target to $70 (from $74) to reflect lower industry multiples while the outlook remains optimistic. J.M. Smucker has beaten consensus estimates in 9 straight quarters by a median of 15.0%, making the company an earnings momentum play, according to JP Morgan.
The J.M. Smucker Company closed yesterday at $59.65.
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Posted In: Analyst ColorEarningsNewsPrice TargetMarketsAnalyst RatingsConsumer StaplesJM Smucker CompanyJP MorganPackaged Foods & Meats
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