Hershey price target raised to $188 from $163 at DA Davidson

DA Davidson raised the firm’s price target on Hershey (HSY) to $188 from $163 and keeps a Neutral rating on the shares after its Q2 earnings beat. The stock is already pricing in above algorithm growth over the next two years on some combination of cocoa recovery and tariff relief, which the firm views as “reasonable”, the analyst tells investors in a research note. The company is executing well on innovation where the pipeline could support stronger elasticities than feared as well as minimize risks from GLP-1, the firm added.