UPDATE: Jefferies Upgrades McCormick & Co. (MKC) to Hold
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(Updated - June 22, 2020 7:33 AM EDT)
(correcting company name and ticker)
Jefferies analyst Rob Dickerson upgraded McCormick & Co. (NYSE: MKC) from Underperform to Hold with a price target of $167.00 (from $110.00).
The analyst comments "We still find MKC’s valuation above what fundamental analysis alone would prescribe, but we think the Consumer segment’s at-home cooking and baking lift will better insulate the co from its emerging market & foodservice headwinds, particularly if consumers do indeed work, cook, and consume more at home."
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