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Hershey price target raised to $163 from $162 at DA Davidson

DA Davidson raised the firm’s price target on Hershey (HSY) to $163 from $162 and keeps a Neutral rating on the shares after its Q1 earnings beat. The firm is encouraged by better than forecast volume and in line margins, suggestive of the management controlling the controllable, but also believes that cocoa prices – and now tariffs – will have significant influence over the direction of the stock in the near term, the analyst tells investors in a research note.

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