McCormick price target lowered to $85 from $95 at Argus

Argus analyst John Staszak lowered the firm’s price target on McCormick (MKC) to $85 from $95 but keeps a Buy rating on the shares. The company’s FY25 guidance missed estimates and the firm is reducing its EPS outlook by 12c to $3.16, though Argus also contends that McCormick can reverse weak volume in some regions and expects it to benefit from new products, enhanced packaging, and its ability to narrow its price gaps vs. private-label brands, the analyst tells investors in a research note.