J.M. Smucker price target raised to $122 from $120 at JPMorgan

JPMorgan raised the firm’s price target on J.M. Smucker to $122 from $120 and keeps a Neutral rating on the shares after its Q4 earnings beat. The company’s underlying volume performance, though below its own and the Street’s expectations, is better than those of many packaged food peers’ right now, the analyst tells investors in a research note. On the less positive side, J.M. Smucker’s outlook for FY25 isn’t necessarily conservative and its balance sheet is now more levered than the group median, the firm added.