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Fly News Breaks for December 10, 2019
MKC
Dec 10, 2019 | 05:07 EDT
Goldman Sachs analyst Adam Samuelson downgraded McCormick & Company to Sell from Neutral with an unchanged price target of $140. With the shares having substantially outperformed peers over the past two years, rallying 63% versus the peer group at 5%, and valuation at or near all-time highs on both an absolute and relative basis, McCormick's risk/reward "appears uncompelling absent a notable acceleration in underlying revenue growth which appears unlikely," Samuelson tells investors in a research note. Further, the analyst sees limited upside potential to consensus estimates.
News For MKC From the Last 2 Days
MKC
Mar 27, 2024 | 07:29 EDT
TD Cowen analyst Robert Moskow raised the firm's price target on McCormick to $75 from $67 and keeps a Hold rating on the shares. The firm said McCormick reported 1Q sales growth and EPS ahead of their expectations and Cowen's. Management also shifted sales guidance to the top half of its -1% to 1% range due to positive momentum in Americas Consumer from actions to narrow price gaps.
MKC
Mar 27, 2024 | 07:01 EDT
Stifel analyst Matthew Smith raised the firm's price target on McCormick to $75 from $70 and keeps a Hold rating on the shares after the company's stronger than expected Q1 report. The company noted that the first quarter performance and improving trends give it confidence in achieving the mid to high end of its sales growth target, noted the firm, which is raising its own sales growth and EPS estimates for the year to reflect Q1 results and improving momentum in the consumer business.
MKC
Mar 27, 2024 | 06:46 EDT
BofA analyst Peter Galbo raised the firm's price target on McCormick to $86 from $82 and keeps a Buy rating on the shares after the company reported Q1 earnings ahead of the Street consensus on better sales and margins. Management pointed to the high end of its organic sales range and "a seemingly conservative outlook for the rest of the year," says the analyst, who points to planned investor meetings with management in April, continued improvement in U.S. scanner data and Q2 earnings results due at the end of June as among catalysts going forward.