Packaged foods maker The J.M. Smucker Company ( SJM ) on Tuesday saw its price target and earnings estimates raised by analysts at Goldman Sachs.
The firm said it lifted its estimates on SJM through 2013, noting the company's recent acquisition of Rowland Coffee should help boost earnings.
Goldman maintained its "Neutral" rating on SJM but raised its price target to $81. That new target suggests a 5% upside to the stock's Monday closing price of $77.32.
J.M. Smucker shares were mostly flat in premarket trading Tuesday.
The Bottom Line
We have been recommending shares of The J.M. Smucker Company ( SJM ) since Aug.21,2009, when the stock was trading at $51.88. The company has a 2.28% dividend yield, based on last night's closing stock price of $77.32.
The J.M. Smucker Company ( SJM ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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