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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Read More on HSY:
- Hershey price target raised to $165 from $160 at Barclays
- Weak Earnings from Hershey (HSY) and Mondelez Send Cocoa Prices Lower
- Hershey price target lowered to $170 from $175 at UBS
- Hershey price target lowered to $175 from $178 at RBC Capital
- Hershey’s Strong Q1 Performance Overshadowed by Tariff Uncertainties and Cocoa Price Volatility