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.