Hershey price target lowered to $220 from $240 at BofA

BofA lowered the firm’s price target on Hershey (HSY) to $220 from $240 and keeps a Neutral rating on the shares. Despite Q1 adjusted EPS that beat BofA’s forecast, shares reacted negatively given the FY26 outlook was unchanged, implying downward estimate revision for the balance of the year, the analyst tells investors. The firm maintains its FY26-FY28 adjusted EPS estimates, but lowers its target to reflect multiple contraction in recent weeks and caution around a SNAP impact in Q2.