Citi analyst Thomas Palmer maintains $JM Smucker (SJM.US)$ with a buy rating.
According to TipRanks data, the analyst has a success rate of 50.6% and a total average return of 2.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $JM Smucker (SJM.US)$'s main analysts recently are as follows:
The company's fiscal Q2 sales 'beat and raise' along with solid underlying volume trends could evoke envy among peers as Smucker 'defies the gravity' of industry volume malaise, potentially making the stock more 'popular' among investors.
Analysts note that despite exceeding expectations in Q2, J.M. Smucker is trading at a valuation multiple that is below the average of the packaged food sector, yet aligns with central store peers. This positioning is viewed as appropriate given the company's performance towards its FY25 objectives, although there are execution risks concerning Hostess.
Amid concerns that J.M. Smucker might need to lower its EPS forecasts due to challenges with Hostess and Coffee inflation, the firm found relief in the company's Q2 sales and profit outcomes, as well as the increase in its FY EPS projections. This is viewed as a sign of progress, though there remains more work to be done.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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