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MKC

McCormick

$120.15

-18.88 (-13.58%)

09:47
01/24/19
01/24
09:47
01/24/19
09:47

Technical Take: McCormick falls sharply after earnings miss

At time of writing the shares were down over 11% to $123.58. That is well off the earlier low of the day at $119. At current price resistance is at the $125 area, near the high of the day and support is at the $120.50 area.

  • 24

    Jan

  • 18

    Feb

MKC McCormick
$120.15

-18.88 (-13.58%)

06/29/18
VERF
06/29/18
DOWNGRADE
VERF
Hold
McCormick downgraded to Hold on valuation at Vertical Group
Vertical Group downgraded McCormick to Hold from Buy due to valuation.
09/28/18
FBCO
09/28/18
NO CHANGE
Target $137
FBCO
Outperform
McCormick price target raised to $137 from $124 at Credit Suisse
Credit Suisse analyst Robert Moskow reiterated an Outperform rating on McCormick & Company and raised his price target to $137 from $124 following the company's quarterly results, citing increased confidence that the company's marketing investments, category management efforts and distribution expansion in retail and food service can generate 4% organic growth in FY19 and 6% in 4Q18 due to a large increase from RB Foods.
11/09/18
FBCO
11/09/18
DOWNGRADE
FBCO
Neutral
McCormick downgraded to Neutral from Outperform at Credit Suisse
11/09/18
FBCO
11/09/18
DOWNGRADE
Target $150
FBCO
Neutral
McCormick downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Robert Moskow downgraded McCormick to Neutral from Outperform but raised his price target for shares to $150 from $137 due to valuation. He also raised his FY18 and FY 9 EPS estimates to $5.00 and $5.45, respectively. In a research note to investors, Moskow says he still believes that the company has a competitively advantaged franchise in the highly attractive flavorings category, and believes that it is on track to deliver strong growth in Q4 and 2019, but says that with the stock now up 46% since the start of the year, he thinks the risk-reward is more balanced for the next 12 months.

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