Goldman Sachs lowered the firm’s price target on Hershey (HSY) to $240 from $248 and keeps a Buy rating on the shares. The company reported solid Q1 results and the firm continues to anticipate an acceleration of earnings growth through the balance of the year, largely supported by margin recovery along with support from its strong brand portfolio, the analyst tells investors in a research note. A softer-than-expected Q2 guide slightly weighed on the stock, but this outlook embeds some conservatism given broader macro uncertainties, the firm added.
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