McCormick price target lowered to $58 from $67 at Barclays

Barclays lowered the firm’s price target on McCormick (MKC) to $58 from $67 and keeps an Equal Weight rating on the shares. While Q1 earnings will be important for tracking McCormick’s underlying momentum, the focus is likely to be on any developments around the proposed combination with Unilever’s (UL) food division and on any early estimates of potential financial impacts from the ongoing Iran conflict and related commodity cost pressures, the analyst tells investors in a research note.