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Fly News Breaks for March 8, 2018
SJM
Mar 8, 2018 | 08:38 EDT
Following a Bloomberg report indicating that J.M. Smucker is considering a sale of its baking brands, including Pillsbury, Robin Hood and Martha White, Morgan Stanley analyst Matthew Grainger said he estimates a sale would likely be dilutive by a "modest" 2%-3%, but consistent with the company's strategic priorities of focusing on growth in coffee, pet food and peanut butter. Grainger maintains his Underweight rating on J.M. Smucker shares.
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