CORRECTION: Jefferies Raises Price Target On McCormick (MKC)
MKC Hot Sheet
Rating Summary:3 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
(Correction: Analyst note should be attributed to McCormick-MKC, not McKesson-MCK)
Jefferies raised its price target earlier on Buy-rated McCormick & Company (NYSE: MKC) from $55 to $57.
The firm comments, "We are reiterating our Buy rating for MKC, despite a slow start to the year – 1Q12 should be challenging due to ongoing gross margin pressure. Nevertheless, we continue to like the name, even if it is more expensive than other large cap packaged food stocks. The good brands, strong innovation (9% of revenue from products introduced since '09) and emerging mkt exposure (13% revenue contribution) all make MKC a good long-term investment."
For an analyst ratings summary and ratings history on McCormick & Company click here. For more ratings news on McCormick & Company click here.
Shares of McCormick & Company closed at $51.07 yesterday, with a 52 week range of $43.36-$52.21.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
Jefferies raised its price target earlier on Buy-rated McCormick & Company (NYSE: MKC) from $55 to $57.
The firm comments, "We are reiterating our Buy rating for MKC, despite a slow start to the year – 1Q12 should be challenging due to ongoing gross margin pressure. Nevertheless, we continue to like the name, even if it is more expensive than other large cap packaged food stocks. The good brands, strong innovation (9% of revenue from products introduced since '09) and emerging mkt exposure (13% revenue contribution) all make MKC a good long-term investment."
For an analyst ratings summary and ratings history on McCormick & Company click here. For more ratings news on McCormick & Company click here.
Shares of McCormick & Company closed at $51.07 yesterday, with a 52 week range of $43.36-$52.21.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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