Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

CSFB Cuts McCormick To Neutral


CSFB cut its investment recommendation on McCormick & Co. (MKC) to neutral from outperform on Wednesday, citing weakness in the cooking spice maker's industrial business.

Analyst David Nelson says he was disappointed in the company's announcement of another charge to improve efficiencies in its supply. He says the secondary reason for his profit warning was a distribution disruption at McCormick that was related to Katrina. Nelson cut his fiscal year 2005 (ending November) earnings per share estimate to $1.60 from $1.67, and his fiscal year 2006 estimate to $1.76 from $1.84. Meanwhile Nelson cut his long term growth model on the company to 6.5%, moving his price target to $34 from $38.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus