NEW YORK (TheStreet) -- Shares of JM Smucker (SJM) - Get Report were down in pre-market trading on Tuesday after Credit Suisse lowered its rating on the stock to "neutral" from "outperform."

The firm cut its price target to $145 from $158 on shares of the Orrville, OH-based food maker.

As Credit Suisse expected, JM Smucker increased its cost savings targets to address an "unwieldy overhead structure," the firm stated.

"However, we underestimated the hit to sales from difficult comparisons to last year's extensive new product launches and we fear that we underestimated the level of reinvestment it will take to revitalize the struggling pet food division," the firm wrote in a note released earlier today. 

Additionally, JM Smucker's key commodity inputs have bottomed and no longer allow opportunities for margin benefits, Credit Suisse noted. 

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A-.

JM Smucker's strengths such as its solid stock price performance, impressive record of earnings per share growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: SJM

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

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