Bernstein upgraded J.M. Smucker (SJM) to Outperform from Market Perform with a price target of $145, up from $121. The firm cites the continued deflation in green coffee costs and the arrival of activist Elliott Management for the upgrade. Elliott might drive portfolio changes and productivity improvements at Smucker, the analyst tells investors in a research note. Bernstein adds that green coffee commodity prices have deflated from all-time high prices above $4 per pound in 2025 to below $3.
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