Evercore ISI analyst David Palmer downgraded Hershey (HSY) to In Line from Outperform with an unchanged price target of $245, citing valuation and his expectations for "diminishing revenue and EPS upside." For the consumer foods group more broadly, Palmer contends that it is "trickier after an unusual year of outperformance," but he still sees "some interesting set-ups" among small-to-mid cap Outperform-rated names such as Post Holdings (POST), Hostess Brands (TWNK) and BellRing Brands (BRBR).
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Published first on TheFly
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