Goldman Sachs analyst Adam Samuelson raised the firm’s price target on McCormick to $66 from $64 and keeps a Sell rating on the shares. The company’s Q1 results revealed stronger-than-anticipated volume and margin performance, while the reaffirmed guidance appears to be conservative following the quarter, the analyst tells investors in a research note. McCormick benefited from better-than-expected organic volume performance in both Consumer and Flavor Solutions, which the management attributed to higher brand marketing spend & investment in the quarter, the firm added.
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