Barclays cuts McCormick price target to $58 amid acquisition and geopolitical risks

Barclays lowered its price target for McCormick & Co. to $58 from $67, maintaining an Equal Weight rating due to uncertainties around a potential Unilever food division acquisition and costs linked to the Iran war. Despite McCormick's fiscal Q1 2026 revenue beating estimates, driven largely by its Mexico acquisition, organic growth remains modest and operating cash flow has declined. The company reaffirmed full-year guidance but faces rising tax rates and interest expenses. Investors should watch for clarity on the acquisition and organic volume recovery to gauge future valuation shifts.