Deutsche Bank Reiterating Buy On Smucker

Deutsche Bank has a Buy rating and a $85 price target on shares of Smucker SJM. In a note to clients, Deutsche Bank writes, "Over the past three months, Smucker shares have largely outperformed the market (along with the entire food group) as the stock is up 15.8% vs. the S&P 500 up 0.5%. Meanwhile, the overall S&P Food Products Index is up 5.3%. Yet even with Smucker's stock surpassing its peers, we continue to view the equity as attractive given the company's leading brand portfolio, rational approach to pricing in the current input cost environment, productivity initiatives, and low valuation on most measures vs. the group." Shares of SJM lost 77 cents on Friday to close at $78.18, a loss of 0.98%.