MKC Price Prediction Next Week
Based on the provided data and current market conditions, here's the analysis for MKC's stock price prediction for the next trading week:
Technical Analysis
The stock has shown a consolidation pattern over the past week, with prices ranging between $66.35 and $67.57. The current price of $80.14 indicates a significant upward movement, suggesting strong buying momentum.
Fundamental Drivers
- McCormick has demonstrated solid financial performance with Q4 2024 results beating expectations:
- EPS of $0.80 vs expected $0.77
- Revenue of $1.80 billion vs expected $1.77 billion
- Management provided positive guidance for fiscal 2025:
- Adjusted EPS guidance: $3.03-$3.08
- Expected EPS growth of 4.1% to $3.07
Analyst Sentiment
The consensus among 12 analysts is "Moderate Buy" with:
- 7 Strong Buy ratings
- 4 Hold ratings
- 1 Strong Sell rating
- Mean price target: $84.31 (9.6% upside potential)
- Street-high target: $96 (24.7% upside)
Price Prediction for Next Week Based on technical indicators and fundamental factors:
- Support level: $78.85 (recent low)
- Resistance level: $82.00 (Barclays price target)
- Expected trading range: $79.50 - $82.50
Recommendation: BUY Rationale:
- Strong technical momentum
- Positive analyst consensus
- Solid earnings performance
- Clear upside potential to analyst targets
Target entry price: $80.14-$80.50 Stop loss: $78.50 First target: $82.00 Second target: $84.30
MKC Similar Chart Price Prediction
The price of MKC is predicted to go up -1.21%, based on the high correlation periods with KWR. The similarity of these two price pattern on the periods is 96.36%.
MKC
KWR
Down: -1.21%Similarity: 96.36%
MKC Revenue Forecast
MKC EPS Forecast
MKC FAQs
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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%
