Argus upgrades McCormick to Buy, sees inflection in weak volumes

As previously reported, Argus upgraded McCormick to Buy from Hold with an $88 price target. The firm contends that the company can reverse the weak volumes in certain regions while noting that it should also benefit from new products , enchanced packaging, and its ability to narrow the pricing gaps with private-lable brands, the analyst tells investors in a research note. Argus is also boosting its FY24 and FY25 EPS view on the stock by 2c to $3.02 and $3.26 respectively.