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Fly News Breaks for April 6, 2018
SJM
Apr 6, 2018 | 08:05 EDT
Stephens analyst Farha Aslam raised her price target on J.M. Smucker to $130 from $125 after the company announced an agreement to acquire Ainsworth Pet Nutrition, citing her higher EPS estimate and the improved growth profile of the business. However, she also said the deal carries a steep price tag that will pressure the company's ROIC for some time. Aslam, who expects the shares to range trade given the company's top-line trends, keeps an Equal Weight rating on J.M. Smucker.
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