McCormick price target lowered to $79 from $83 at UBS

UBS lowered the firm’s price target on McCormick (MKC) to $79 from $83 and keeps a Neutral rating on the shares. McCormick’s acquisition of a controlling stake in McCormick de Mexico is a “solid” use of capital, increasing the company’s exposure to a region that is growing per capita consumption in both units/dollars in the company’s core categories, all while being accretive to earnings, the analyst tells investors in a research note.