Stifel increased its price target for J.M. Smucker to $132 from $115, maintaining a Hold rating on the shares as the stock approaches its 52-week high.
The upgrade follows the company’s first-quarter results, which exceeded Wall Street expectations. Adjusted earnings per share reached $3.24, surpassing the $2.21 estimate by $1.03. Revenue totaled $2.2 billion, outpacing the $2.12 billion forecast. Stifel attributed $0.84 of the EPS beat to tariff refunds, with an additional $0.20 driven by stronger underlying business performance.
J.M. Smucker’s stock last traded at $130.90, near its 52-week high of $134.85. The shares have gained 38% year-to-date, supported by a 3.4% dividend yield and 16 consecutive years of dividend increases. InvestingPro’s fair-value estimate places the stock at $136.36, suggesting limited upside under current conditions.
The company’s earnings growth benefited from favorable tariff comparisons and refunds, though higher investment spending and inflation partially offset gains. Stifel noted that J.M. Smucker’s FY27 outlook assumes declining coffee volumes and negative pricing for the remainder of the year. The analyst also highlighted progress in debt reduction and an improved outlook for the Uncrustables product line.
