McCormick upgraded to Buy at TD Cowen on well-positioned portfolio

As previously reported, TD Cowen upgraded McCormick (MKC) to Buy from Hold with a price target of $90, up from $86. The firm views McCormick’s portfolio of spices and flavorings as well-positioned to capitalize on growing consumer demand for fresh foods and bolder flavor, adding that it is encouraged by signs of sequential improvement as McCormick works to fully capitalize on these trends in the U.S. The firm also believes that the company’s profit margin structure is on stronger footing than food peers, the analyst tells investors.