SJM - J.M. Smucker gains after Guggenheim says management changes are paying off

J.M. Smucker (NYSE:SJM) trades higher after Guggenheim upgrades the food stock to a Buy rating from Neutral. The firm points to the positive outcome from multiple management changes orchestrated in the last two years at SJM that is bringing an improved operational focus. Guggenheim also thinks the growth algorithm is getting more favorable in both coffee and pet, while the Uncrustables business is viewed as an underappreciated growth driver. Shares of SJM are up 1.55% premarket to $126.99. Guggenheim assigns a price target of $146 to J.M. Smucker (SJM), which stand well above the average analyst price target of $124.93.

For further details see:

J.M. Smucker gains after Guggenheim says management changes are paying off