MKC Price Prediction Next Week
Analysis and Insights
Technical Analysis:
McCormick & Company (MKC) is currently trading at $82.08, near its Fibonacci pivot point of $82.49. The stock shows bullish momentum with a MACD of 1.64 and Stochastic Oscillator readings of 66.60 (StochK) and 70.28 (StochD). These indicators suggest potential upward movement.
Fibonacci Levels:
The Fibonacci levels indicate resistance at $84.92 (R1) and $86.42 (R2), with support at $80.07 (S1) and $78.57 (S2). The stock is likely to test the R1 level in the short term.
Fundamental Analysis:
MKC has a Moderate Buy consensus with a mean price target of $84.31. The company recently reported strong Q4 results, beating EPS and revenue expectations. However, challenges like lower sales in China and rising costs could impact future performance.
Analyst Sentiment:
Analysts have a Moderate Buy consensus, with a mean price target of $84.31, suggesting a potential upside of 6.5% from current levels.
Conclusion:
Based on the bullish technical indicators and positive analyst sentiment, MKC is expected to rise to $84.92 next week. However, be cautious of potential volatility ahead of the Q1 earnings report on March 25.
Recommendation: Buy MKC with a target price of $84.92 and a stop-loss at $80.07.
MKC Similar Chart Price Prediction
The price of MKC is predicted to go up -1.31%, based on the high correlation periods with BCBP. The similarity of these two price pattern on the periods is 96.67%.
MKC
BCBP
Down: -1.31%Similarity: 96.67%
MKC Revenue Forecast
MKC EPS Forecast
MKC FAQs
What is MKC revenue forecast for next quarter？
What is MKC eps forecast for next quarter？
MKC VS S&P500
We see the merits of its technology modernization effort (buoying future sales growth), as it is replacing a system that has been in place since the early 2000s when the firm was half the size it is now.
If consumers' penchant for at-home food consumption (jump-started by the pandemic) persists (as a means to stretch budgets), McCormick's sales could surpass our expectations.
Even with lingering supply chain disruptions, McCormick's service levels are improving relative to the start of the pandemic as its manufacturing operations are catching up, aiding its retail relationships.
MKC Analyst's Forecast
Robert Moskow
TD Cowen
Hold → Strong Buy
2025-01-08
Price Target
$86 → $90
Upside
+20.77%
TD Cowen upgraded McCormick to Buy from Hold with a price target of $90, up from $86.
Rob Dickerson
Jefferies
Hold → Strong Buy
2024-12-09
Price Target
$85 → $91
Upside
+13.79%
Robert Moskow
TD Cowen
Hold
2024-10-02
Price Target
$84 → $86
Upside
+4.83%
