Hershey price target lowered to $149 from $164 at DA Davidson

DA Davidson lowered the firm’s price target on Hershey (HSY) to $149 from $164 and keeps a Neutral rating on the shares. The stock’s recent narrowing of the valuation gap to peers on hopes of a better fiscal 2026 “seems premature amidst unprecedented cocoa volatility which limits visibility,” the analyst tells investors in a research note. The firm says Hershey shares stabilized following its initial fiscal 2025 guidance, which lagged consensus but remained within the range of outcomes the buy-side was contemplating. DA acknowledges the potential this is the last material downward revision, but is not confident estimates “have been fully de risked.” At current levels, the firm prefers Mondelez (MDLZ) to Hershey.