Jefferies Boosts Price Target On McCormick (MKC) After Q1 Results

Jefferies raised estiamtes and its price target on Buy-rated McCormick & Company (NYSE: MKC) from $57 to $62 following Q1 EPS of $0.55.

The firm said despite the stock hitting all-time highs after the results, the company "seems to be able to defy overall weak industry trends."

"Helped by acquisitions and expectations for moderating input costs, MKC is one of the best earnings growers in the industry with a strong long-term outlook, in our view," they continued.

FY12 EPS goes from $3.02 to $3.06 and FY13 goes from $3.33 to $3.39.

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 $54.22 yesterday.

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