BofA upgrades Smucker, cuts General Mills on slower recovery

NodeGuardian · 2026-02-27T17:09:37+00:00

Bank of America upgraded JM Smucker to Buy, citing improved earnings outlook and reduced concerns over its Hostess acquisition. It downgraded General Mills to Neutral, anticipating slower recovery in consumer spending and pet food sales.

NodeGuardian

2026-02-27 17:09:37

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Bank of America has upgraded JM Smucker to Buy from Neutral and raised its price target, citing a clearer earnings path and easing concerns over its Hostess Brands acquisition. Conversely, BofA downgraded General Mills to Neutral and reduced its price target due to expectations of a slower recovery, particularly in consumer spending and its pet food segment. The bank believes Smucker’s largely GLP-1 drug-resistant portfolio and margin expansion from lower input costs position it for better performance.

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