More Squawk From Jim Cramer: JM Smucker (SJM) in 'Extraordinary' Price War - TheStreet

NEW YORK (TheStreet) -- Shares of JM Smucker (SJM) - Get Report were retreating in late-morning trading on Tuesday after Credit Suisse downgraded the stock to "neutral" from "outperform."

"This is that price war," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning. "There's a radical price war in every aisle of the supermarket."

The price war for pet food in particular is "extraordinary," Cramer stated. 

It's everywhere from online to brick-and-mortar stores like PetSmart (PETM), he noted.

In other analyst actions, Morgan Stanley upgraded AutoZone (AZO) stock to "overweight" from "equal weight."

"I love that call," Cramer stated. "This is a company that I think should be bought aggressively because the buyback comes right underneath it."

"I thought the piece made a lot of sense," he added.

AutoZone stock was surging this morning.

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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