UPDATE: Wellington Shields Initiates McCormick & Company at Buy

Wellington Shields has published a research report on McCormick & Company (NYSE: MKC) and initiated coverage on the stock with a Buy rating and $74 price target.

In the report, Wellington Shields wrote, "We are initiating coverage of MKC with a Buy rating and a price target of 74, suggesting upside of 18% and total return of 20%. McCormick, a leading provider of spices and seasonings for consumer and industrial customers, has a long history of growth. We estimate that sales and earnings can grow at 11% for at least the next five years, with a boost from recent strategic acquisitions in emerging markets."

McCormick & Company is currently trading down 0.19 percent from Wednesday's $62.79 closing price.

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