Wells Fargo analyst Chris Carey initiated coverage of Hershey with an Underweight rating. Execution at Hershey has been solid but valuation is near all-time highs, and the analyst doesn’t think its EPS algorithm has step-changed. Indeed, after years of tightly managing costs and likely normalization ahead in high-margin Confectionery, Carey is "struggling" to get to profit algorithm in 2024.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HSY:
- Hershey sued over metals content in dark chocolate, Reuters says
- HSY and TR: Could These Candy Makers Sweeten Your Portfolio This Holiday?
- Hershey price target raised to $231 from $224 at Morgan Stanley
- Hershey among brands called out by Consumer Reports for lead exposure
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
