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Morgan Stanley rates J M Smucker stock as Overweight with growth potential
Morgan Stanley has initiated coverage of J.M. Smucker with an Overweight rating and a price target of $123, citing strong growth prospects and a favorable risk-reward scenario. The company, currently trading at $109.70, has a 3.94% dividend yield and has maintained payments for 55 years. Despite challenges with the Hostess brand, J.M. Smucker reported a 5% increase in EPS to $2.61, surpassing expectations, while also revising its revenue guidance downward.
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