Deutsche Bank analysts provided their outlook on The J. M. Smucker Company (NYSE:SJM) ahead of its upcoming Q4 earnings, expected to be announced on June 7.
In the near term, alongside an uncertain price sensitivity/demand environment as consumers become more constrained by inflation, the company continues to be plagued by margin headwinds across raw materials, freight, and labor.
While the analysts acknowledge partial progress on fundamentals — i.e., generally stronger growth, expanded capacity to capture top-line momentum, and a better-optimized portfolio post-divestitures — they remain on the sidelines as they await further clarity on (1) puts and takes impacting 2023, and (2) capital allocation priorities.