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UPDATE: Jefferies Ups PT to $67 on McCormick on In-Line Q2 Earnings

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Jefferies reiterates its Buy rating on McCormick (NYSE: MKC) and raises its price target from $62 to $67.

Jefferies comments, "MKC's 2Q12 earnings of $0.60 were in line with our model as the company demonstrated its stable and high-quality business model. Inventory levels have started to decline sequentially, volume and price performance are well balanced and the organic growth rate outperforms most peers. We continue to see MKC as the best positioned large cap packaged food name in our universe. On the negative side, the industrial EBIT margin declined again."

MKC closed at $59.09 on Wednesday.

Latest Ratings for MKC

DateFirmActionFromTo
Sep 2017Credit SuisseMaintainsOutperform
Jul 2017JefferiesUpgradesHoldBuy
Jun 2017Goldman SachsInitiates Coverage OnNeutral

View More Analyst Ratings for MKC
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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