BUZZ-Jefferies cuts PT on McCormick citing EMEA pressures heading into Q3
Reuters
Sep 22
BUZZ-Jefferies cuts PT on McCormick citing EMEA pressures heading into Q3
** Brokerage Jefferies cuts PT on spices and condiments maker McCormick and Company MKC.N to $84 from $90
** Jefferies sees MKC facing some near-term challenges especially in flavor solutions as big packaged companies have softer volumes and EMEA geopolitical issues are hurting quick-service restaurant $(QSR)$ traffic
** "Flavor Solutions and EMEA pressures are still a watchout heading into Q3," Jefferies says
** Six of 16 analysts rate stock "buy" or higher, nine "hold", and one "sell"; median PT is $82.50 - data compiled by LSEG
** Including session's move, stock down 14.1% YTD
(Reporting by Anuj T in Bengaluru)
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