Bank of America Securities analyst Peter Galbo has reiterated their bullish stance on MKC stock, giving a Buy rating on May 15.
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Peter Galbo has given his Buy rating due to a combination of factors including the strong performance of McCormick & Company’s Americas Consumer business, which supports his positive outlook. Despite recent underperformance in the stock, Galbo sees potential for recovery as consumers increasingly prefer fresh and perimeter categories in stores, where McCormick’s products are key complements.
Additionally, Galbo notes that while there are challenges in the Americas Flavor Solutions segment, such as negative volume trends in certain categories, the overall company performance remains robust. The reduction in tariffs on key ingredients like garlic also presents a favorable development, and potential trade deals could further benefit McCormick. Galbo maintains a price objective of $96, reflecting confidence in the company’s valuation relative to its historical averages.
In another report released on May 15, Bernstein also maintained a Buy rating on the stock with a $101.00 price target.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MKC in relation to earlier this year.
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