BUZZ-BofA upgrades rating for J M Smucker, downgrades General Mills

General Mills, Inc. -2.89% Pre
J.M. Smucker Company -1.52% Pre

General Mills, Inc.

GIS

34.56

34.51

-2.89%

-0.14% Pre

J.M. Smucker Company

SJM

89.53

89.53

-1.52%

0.00% Pre

** Brokerage BofA changes rating on packaged food companies including J M Smucker SJM.N and General Mills GIS.N, following Consumer Analyst Group of New York (CAGNY) conference

** BofA upgrades SJM stock to "buy" from "neutral"; raises PT to $130 from $120; shares up ~2% premarket

** Brokerage says recent actions such as certain promotions and
optimizing the manufacturing footprint should help stabilize profitability while core segments show strong fundamentals

** Adds "SJM presents as a relatively limited GLP-1 exposed center store food company relative to peers"

** BofA downgrades GIS stock to "neutral" from "buy"; cuts PT to $48from $55; shares down ~1% premarket

** "Consumer spending recovery has been slower than expected particularly for low- and middle-income, causing a higher cost of volume," says brokerage

** SJM fell 11% in 2025, while GIS fell 27%