Hershey price target raised to $160 from $145 at Piper Sandler

Piper Sandler raised the firm’s price target on Hershey (HSY) to $160 from $145 and keeps an Underweight rating on the shares. The firm notes Hershey’s pricing lever is effective as a driver of gross margin recovery, and it expects new pricing actions and cost savings initiatives to drive a 500bps lift to gross margins 2026. Tariffs remain a headwind, though cocoa could get exempt in certain trade deals if they are reached in the coming days, says Piper.