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Fly News Breaks for April 4, 2016
SJM
Apr 4, 2016 | 06:35 EDT
Goldman analyst Jason English downgraded J.M. Smucker to Sell and lowered his price target to $120 from $124 citing fundamental challenges. The analyst believes Smucker's faces a negative estimate revision cycle due to fundamental challenges in its core and recently acquired businesses. English said coffee costs have turned and expects SJM's favorable cost spread to turn negative in 2017 and recent distribution gains in both coffee and pet will begin to be lapped.
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