Hershey price target lowered to $230 from $243 at DA Davidson

DA Davidson lowered the firm’s price target on Hershey (HSY) to $230 from $243 and keeps a Neutral rating on the shares. The company’s Investor Day presentation provided a thoughtful look forward, detailing how it will leverage an iconic confection franchise with a differentiated salty portfolio through its One Hershey commercial model and proven innovation pipeline, among others, though the firm’s price target cut reflects peer group multiple contraction, the analyst tells investors in a research note. The firm adds that Hershey’s initial FY27 outlook that brackets consensus despite ongoing cocoa deflation and some skepticism around hopes for a stable demand environment.