UPDATE: Jefferies Upgrades McCormick & Co. (MKC) to Hold

June 22, 2020 5:23 AM EDT
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Price: $205.37 --0%

Rating Summary:
    18 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 21 | New: 42
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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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