McCormick price target raised to $86 from $85 at Jefferies

Jefferies raised the firm’s price target on McCormick & Company to $86 from $85 and keeps a Hold rating on the shares. While noting that the company posted positive year-over-year vol/mix for the first time since Q4 of 2021, and calling this “an encouraging step supported by the current consumer environment,” shift to at-home dining and price reinvestment, the firm says the stock’s premium valuation already reflects that the company’s U.S. retail sales trends are better relative to U.S. food peers.