J.M. Smucker price target lowered to $138 from $139 at Citi

Citi analyst Thomas Palmer lowered the firm’s price target on J.M. Smucker to $138 from $139 and keeps a Buy rating on the shares ahead of the fiscal Q1 report on August 28. An earnings beat seems likely, but there is risk on the sales line, given slowing measured takeaway growth, especially for sweet baked snacks, the analyst tells investors in a research note. The firm updated estimates to reflect a lower sales outlook.