Deutsche Bank Reiterates Buy on Smucker

Deutsche Bank is out with its report today on Smucker

, reiterating Buy. In its report, Deutsche Bank writes, "In our opinion Smucker's leading U.S. brands, low C2012E valuation (12.4x adj P/E), strong balance sheet and solid FCF (5% yield) are enticing characteristics in times of economic and market turmoil. Smucker is leveraging its scale with both retailers and consumers. We reiterate our Buy rating and $85 price target." Shares of SJM closed Friday at $74.83, up 0.88% from Thursday's close.