J.M. Smucker Cut to “Neutral” at Goldman Sachs (SJM)

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Packaged foods maker The J.M. Smucker Company ( SJM ) on Monday caught some negative commentary from analysts at Goldman Sachs.

The firm downgraded SJM "Buy" to "Neutral" with an $83 price target, which still suggests a 10% upside to the stock's Friday closing price of $75.44. Goldman said they "no longer see significant upside to earnings estimates over the medium term and believe its valuation discount is no longer compelling."

J.M. Smucker shares fell 44 cents, or -0.6%, in premarket trading Monday.


The Bottom Line
Shares of J.M. Smucker ( SJM ) have a 2.55% dividend yield, based on Friday's closing stock price of $75.44. The stock has technical support in the $71-$72 price area. The stock is trading near the all-time high range of $79-$81 a share.

The J.M. Smucker Company ( SJM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: SJM

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