Morgan Stanley upgraded Hershey (HSY) to Overweight from Equal Weight with a price target of $211, up from $195. The firm says the stock “offers rare visibility into significant” earnings growth within staples. Hershey’s cost pressures are easing and its sales momentum is improving, the analyst tells investors in a research note. Morgan Stanley believes Hershey’s “credible” multiyear earnings recovery is not reflected in consensus estimates.
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