Stifel lowered the firm’s price target on McCormick (MKC) to $71 from $76 and keeps a Hold rating on the shares. McCormick reported a stronger-than-expected third quarter, reflecting the fifth consecutive quarter of volume growth benefiting from price gap management and investment, the analyst tells investors. The company reiterated its FY25 revenue growth guidance, but lowered its EPS outlook as it now expects cost inflation to be up low- to mid-single digits in FY25, notes the analyst, whose estimates and target reflect lowered profit expectations.
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Read More on MKC:
- McCormick price target lowered to $72 from $82 at Barclays
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- McCormick & Company: Strategic Resilience and Growth Amid Market Challenges Justifies Buy Rating
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