JPMorgan lowered the firm's price target on J.M. Smucker to $120 from $130 and keeps an Overweight rating on the shares ahead of the fiscal Q4 report on June 9. The firm cites its lowered forward estimates along with reduced food group multiples for the target cut. JPMorgan expects organic sales growth of 4.8%, below the consensus estimate of 5.8%, driven by slight downside in most of Smucker's segments, including coffee.
