Hershey upgraded to Buy from Hold at TD Cowen

TD Cowen analyst Robert Moskow upgraded Hershey (HSY) to Buy from Hold with an unchanged $210 price target following the Q1 report. The firm has increased confidence that Hershey will raise its 2026 guidance and return to volume growth in 2027. The company’s sales growth acceleration in May from distribution gains, “aggressive” merchandising, and innovation are a near-term catalyst for the stock, the analyst tells investors in a research note. TD also believes cocoa deflation, pricing power, and Hershey’s investments in capabilities “provide unique earnings visibility.”