J.M. Smucker (SJM) saw "better coffee fundamentals" during its fiscal Q1 period, potentially leading to improved coffee sales and profits, BofA Securities said in a Tuesday note focused on packaged food companies.
The investment firm raised its fiscal Q1 and 2026 guidance for J.M. Smucker's adjusted earnings per share to $1.95 and $9.10 respectively, but flagged tariff headwinds related to Brazilian imports. BofA Securities also raised its price target on the company's stock to $120 from $105, while reiterating a neutral rating.
In the same note, BofA Securities lowered its fiscal 2026 EPS estimate for Campbell's (CPB) to $2.35 from $2.65, citing updated inflation assumptions, while its fiscal Q4 and 2025 estimates were unchanged. The investment firm also cut its price target on Campbell's stock to $29 from $33 and reaffirmed its underperform rating.
J.M. Smucker is set to release its fiscal Q1 results on Aug. 27 and Campbell's is expected to report fiscal Q4 results on Sept. 4.
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