Deutsche Bank Reiterates Buy on Smucker

Deutsche Bank is out with its report today on Smucker SJM, 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.