Morgan Stanley analyst Megan Alexander Clapp lowered the firm’s price target on Hershey (HSY) to $184 from $193 and keeps an Equal Weight rating on the shares. Despite a “strong” Q3 beat and increased fiscal year guidance, Hershey shares closed down by about 2% yesterday, which the firm attributes to mixed quarter-to-date commentary and a more measured tone from management on 2026 relative to bullish expectations, the analyst tells investors in a post-earnings note.
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