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Fly News Breaks for June 21, 2016
SJM
Jun 21, 2016 | 08:34 EDT
Goldman analyst Jason English said now is an opportune time to sell J.M. Smucker following better than expected Q4 results. The analyst said FY16 was a good fundamental year for the company but conditions for a substantial fundamental deceleration are falling into place and shares are near an all time high with consensus estimates factoring in sustained momentum. English believes coffee tailwinds peaked in Q4 and decline statements in FY17 will lead to headwinds. The analyst rates J.M. Smucker a Sell with a $128 price target, up from $122.
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