J.M. Smucker price target raised to $135 from $130 at Wells Fargo

Wells Fargo analyst Chris Carey raised the firm’s price target on J.M. Smucker (SJM) to $135 from $130 and keeps an Overweight rating on the shares. Amid fears of a potential need to cut the EPS range to factor weak Hostess and Coffee inflation, the company’s Q2 sales/profit beat and FY EPS raise was a relief, the firm says. Wells believes that while there’s work to be done, this felt like progress.