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Fly News Breaks for January 22, 2020
Jan 22, 2020 | 17:38 EDT
As previously reported, Jefferies analyst Rob Dickerson initiated coverage of McCormick (MCK) with an Underperform rating and $150 price target. Despite posting 3%+ organic growth over the past five years and expanding operating margin ~400 bps since 2015, the analyst sees go-forward margin expansion "incrementally more challenging," and he questions McCormick's "ability to grow in-line with its long-term operating profit and EPS growth targets, given long-term guidance does in fact bake in op margin expansion annually."
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