JPMorgan lowered the firm’s price target on McCormick (MKC) to $79 from $82 and keeps an Overweight rating on the shares. The company reported a Q3 earnings beat but with a gross margin shortfall and reduced annual earnings outlook, the analyst tells investors in a research note. The firm believes “mounting” tariff pressures could limit McCormick;s earnings growth next year. However, it believes the company is better positioned than its large-cap peers to manage through the current environment.
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