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Downgrade Alert for JM Smucker (SJM)

By Nick Russo

JM Smucker (NYSE:SJM) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $133.65 on volume of 1.5 million shares, above average daily volume of 846,000.

In the past 52 weeks, JM Smucker share prices have been bracketed by a low of $104.30 and a high of $157.31 and closed yesterday at $133.65, 28% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

The J. M. Smucker Company manufactures and markets food products on a worldwide basis. The Company's principal products include peanut butter, shortening and oils, fruit spreads, canned milk, baking mixes and ready-to-spread frostings, flour and baking ingredients, juices and beverages, frozen sandwiches, dessert toppings, syrups, pickles and condiments, and potato side dishes.

JM Smucker (NYSE:SJM) defies analysts with a current price ($133.65) 3.4% above its average consensus price target of $129.10. The stock should discover initial support at its 50-day moving average (MA) of $128.18 and subsequent support at its 200-day MA of $120.65.

SmarTrend recommended that its subscribers protect gains by selling shares of JM Smucker on August 23rd, 2016 by issuing a Downtrend alert when the shares were trading at $146.18. Since that call, shares of JM Smucker have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades jm smucker

Ticker(s): SJM