Hershey price target raised to $189 from $173 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Hershey (HSY) to $189 from $173 and keeps an Equal Weight rating on the shares. Hershey reported “strong” Q2 upside while the fiscal year guidance cut was “better-than-feared,” the analyst tells investors. Cocoa is still a wild card, but the firm sees “the glass as half-full” given the potential for organic sales growth upside in the second half as well as possible tariff relief.