UPDATE: Deutsche Bank Raises PT to $59 on McCormick; Solid TSR

Deutsche Bank raises its price target from $56 to $59 on McCormick MKC as it reiterates its Buy rating on shares for its 15th straight year. Deutsche Bank comments, "We have maintained a BUY on McCormick for 15 years and see no reason to change now. The company uses leading shares, geographic / product balance, select M&A, a solid FCF and B/S to outperform its peers. Not surprisingly such attributes garner a high valuation but we continue to see solid TSR (11%+)." MKC closed at $56.60 on Friday.