May 14, 2012 at 09:26 AM EDT
Deutsche Bank Boosts Target for McCormick & Co. (MKC)

Spice maker McCormick & Company, Inc. (MKC) on Monday caught some continued bullish commentary from analysts at Deutsche Bank.

The firm maintained its “Buy” rating on MKC while lifting its price target from $56 to $59. That new target suggests a 4% upside to the stock’s Friday closing price of $56.60.

A Deutsche Bank analyst commented, “We have maintained a BUY on McCormick for 15 years and see no reason to change now. The company uses leading shares, geographic/product balance, select M&A, a solid FCF and B/S to outperform its peers. Not surprisingly such attributes garner a high valuation but we continue to see solid TSR (11%+).”

McCormick & Company shares were unchanged in premarket trading Monday.

The Bottom Line
Shares of McCormick & Co. (MKC) have a 2.19% dividend yield, based on Friday’s closing stock price of $56.60. The stock has technical support in the $52 price area. The shares are trading at all-time highs.

McCormick & Company, Inc. (MKC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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