BofA lowered the firm’s price target on McCormick to $80 from $86 and keeps a Buy rating on the shares ahead of the company reporting Q4 earnings and introducing a FY24 financial outlook on January 25. As a result of weaker U.S. scanner data, the firm lowered its Q4 adjusted EPS estimate and also lowered its FY24 and FY25 estimates to $2.70 and $2.90 from $2.90 and $3.10, respectively.
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