JM Smucker (SJM) falls 7% after confirming $5.6 billion deal to buy Hostess Brands (TWNK)
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Morgan Stanley on J.M. Smucker (SJM) Buying Hostess (TWNK): 'longer-term risks to TWNK's demand from growing use of anti-obesity medicines'
September 11, 2023 12:46 PM EDTMorgan Stanley analyst Pamela Kaufman reiterated an Equalweight rating and $151.00 price target on J.M. Smucker (NYSE: SJM).
The analyst comments "TWNK offers an attractive growth outlook. TWNK holds the second highest market share (20%) in the $9.3 bn US sweet snacks category, which has grown at a 4.5% CAGR since 2014 and experienced accelerating growth of a 9% CAGR over the last four years due to shifting consumer preferences towards indulgent snacking. The sweet... More
