Citigroup Maintains Sell on McCormick & Co, Raises Price Target to $68
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Thomas Palmer has maintained a Sell rating on McCormick & Co (NYSE:MKC) but raised the price target from $60 to $68.
March 27, 2024 | 5:09 pm
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Citigroup maintains a Sell rating on McCormick & Co but increases the price target from $60 to $68.
The maintenance of a Sell rating indicates a negative outlook on the stock by Citigroup, suggesting that the analyst believes the stock may underperform the market or its sector. However, the increase in the price target from $60 to $68 suggests a less negative outlook than previously held, possibly due to updated financial analysis or market conditions. This mixed signal could lead to short-term volatility in the stock's price as investors reassess their positions based on the new price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100