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J.M. Smucker Still a “Buy” at KeyBanc; Sees 26% Upside (SJM)

By Dividend.com,  July 09, 2012, 08:48:56 AM EDT

Packaged foods maker The J.M. Smucker Company ( SJM ) on Monday caught some continued bullish commentary from analysts at KeyBanc.

The firm reiterated its "Buy" rating and $95 price target on SJM, suggesting a 26% upside to the stock's Friday closing price of $75.31.

A KeyBanc analyst said the firm "Reiterates a Buy following our review of the Company's recently filed proxy statement (filed July 3) and 10K. We continue to believe that there is upside potential to FY13 estimates owing mainly to our belief that the Company's base business can grow faster than the 2-3% that we estimate is implied by current guidance."

J.M. Smucker shares were mostly flat 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 $75.31. The stock has technical support in the $72-$74 price area. The stock is trading near its all-time high price range of $78-$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.


This article appears in: Investing, Stocks

Referenced Stocks: SJM



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