Barclays Keeps Equal Weight on McCormick as Unilever Talks Emerge

Barclays maintains an Equal Weight rating and $67 price target for McCormick & Company, citing significant strategic merit and potential earnings accretion from a potential transaction with Unilever's Foods business. However, the analyst notes that the deal value could be hefty and carry execution risk, and majority ownership by Unilever shareholders could dampen initial investor enthusiasm. McCormick shares were up 31c to $54.36 in premarket trading.