McCormick price target raised to $82 from $80 at BofA

BofA raised the firm’s price target on McCormick to $82 from $80 and keeps a Buy rating on the shares. The firm views the recent positive stock reaction following Q4 results as a reflection of gross margin upside in Q4, which now serves as a higher starting point for FY24 estimates, and a relatively prudent FY24 sales and EPS outlook.