Hershey (HSY) PT Lowered to $159 at UBSHe said, "HSY?reported a 4Q?EPS?beat driven by better sales and margins, and while FY25 guidance came in well below Street expectations, we think the outlook was ahead of some of the more bearish expectations we heard in recent weeks. With sentiment negative heading into the print, a better-than-feared 25 guide, and the company offering some constructive commentary on returning to growth in 26, it was not entirely surprising to see shares trade higher yesterday (+4.4%?vs. XLP?+0.5%). At this point, we view the companys 25 outlook as achievable despite the many moving pieces/uncertainties, and we were encouraged by managements commitment to deliver balanced growth looking ahead to 26. However, visibility around the magnitude/pace of earnings growth remains limited, and we think the catalyst path from is largely going to be tethered to how cocoa prices move. With shares trading at 36% premium to Packaged Food peers, more or less in-line with LT?historical averages, we think a more attractive entry point and/or greater conviction that there is upside to our numbers (likely due to less onerous cost inflation looking ahead) is needed before stepping in."