Peter Grom of UBS had a Hold/Neutral call on McCormick & Company, ticker MKC, and in one update he set the price target at $53, later cutting it to $51 while keeping the rating Neutral.

What that means

A Hold rating usually means the analyst sees the stock as fairly valued, with no strong case to buy aggressively or sell immediately. In Peter Grom’s case, the rating was described as Hold in April and Neutral in June, which are effectively the same stance in many analyst frameworks.

Price target changes

  • April 2: Hold rating, $53 price target.
  • June 2: Neutral rating, price target lowered to $51 from $53.
  • A later market summary also noted UBS keeping Neutral and lifting the target to $52.

Quick scoop

So the short answer is: Peter Grom’s view on MKC was cautious and middle-of- the-road, not bullish. He repeatedly kept it in Hold/Neutral territory while trimming the target as his outlook on the food sector softened.