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Fly News Breaks for April 16, 2018
SJM
Apr 16, 2018 | 08:07 EDT
As previously reported, Credit Suisse analyst Robert Moskow downgraded J.M. Smucker to Underperform from Neutral and lowered his price target on the shares to $115 from $120. The analyst believes that while the company has leading brands in two big, growing categories, the dynamic changes in consumer preferences have significantly devalued or commoditized its legacy brands and impaired its competitiveness. Moskow expects margins to head lower as these pressures necessitate more reinvestment and promotional spending.
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