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 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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here