TD Cowen lowered the firm’s price target on McCormick (MKC) to $64 from $75 and keeps a Buy rating on the shares. The firm lowered earnings estimates and price targets for a number of large cap food makers to reflect the likelihood of higher input costs stemming from the Iran War and limited pricing power, adding that food companies are now prioritizing debt reduction to reduce risk after substantial margin erosion in 2025.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MKC:
- McCormick price target lowered to $67 from $78 at JPMorgan
- McCormick: Buy Rating Reiterated on Strategic Upside From Potential Reverse Morris Trust With Unilever’s Foods Unit
- Midday Fly By: FedEx reports ‘beat and raise,’ Ecolab to acquire CoolIT
- Barclays sees accretion, risks for McCormick from potential deal
- McCormick price target lowered to $59 from $67 at UBS