McCormick upgraded to Outperform from Market Perform at Bernstein

Bernstein analyst Alexia Howard upgraded McCormick to Outperform from Market Perform with a $90 price target. The analyst expects a recovery in the company’s fundamental performance over the course of the 2023. McCormick remains the strongest company in the sector over the longer term and its valuation looks relatively attractive, even given the tempered outlook for 2023, the analyst tells investors in a research note.