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McCormick price target lowered to $77 from $80 at Citi

Citi analyst Thomas Palmer lowered the firm’s price target on McCormick (MKC) to $77 from $80 and keeps a Neutral rating on the shares ahead of the fiscal Q2 report on June 26. The firm models organic sales growth and earnings slightly below consensus, with upside in Consumer offset by weakness in Flavor Solutions and a higher tax rate. Citi sees risk to McCormick’s fiscal 2025 outlook, mainly for tariffs. This could send estimates lower, but seems at least partially reflected in the share price considering its decline since the start of April, the analyst tells investors in a research note.

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