Goldman Sachs Remains Neutral on The J.M. Smucker Company

Goldman Sachs has published its research report on the J.M. Smucker Company SJM following reported 2Q 2011 EPS of $1.38. Goldman Sachs writes, "We are raising our FY 2011 EPS estimate to $4.69 from $4.66 based on $0.07 of upside to our 2Q estimate offset by lower sales and margin assumptions in the second half. Our FY 2012 EPS estimate is now $5.00, down from $5.10, based on lower margin assumptions, primarily in coffee." GS maintains their P/E price target of $68 and sees persistent competitive pressure as a potential risk. SJM closed Thursday at $62.15.