Smucker: An Appetizing Value
We believe the stock of packaged foods company J.M. Smucker (SJM: $51) is attractive for favorable 12-month total return. Although we see Smucker facing commodity cost pressures, we expect this can at least be partially offset by raising prices, reducing costs, and producing operating efficiencies. In our view, the stock is trading at an attractive discount to a group of packaged food stocks.
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