Deutsche Bank Retains Buy on Smucker's on F4Q10 Predictions (SJM)

Deutsche Bank analyst Eric Katzman maintained a Buy rating on The J.M. Smucker Company SJM. Katzman said, "We expect F4Q10 (end Apr) EPS of $0.79 vs. $1.02 last year on 1% sales decrease...There will be focus on F4Q10 results, but we expect most attention to be placed on F2011 guidance. Our F2011 model reflects 5% sales and EBIT growth, and EPS growth of 8% to $4.48 (incl. $0.40 goodwill). Likely attention will be placed on coffee trends, inflation and retail dynamics." Deutsche Bank gives SJM a price target of $66.00. SJM is currently trading at $56.34.