Hershey price target lowered to $151 from $171 at JPMorgan

JPMorgan lowered the firm’s price target on Hershey (HSY) to $151 from $171 and keeps a Neutral rating on the shares as part of a Q4 earnings preview. The firm believes the buy-side continues to be bearish on Hershey shares. While Hershey has “many ways to win via innovation,” and the stock is cheaper than it once was, snacks in general are slumping, chocolate competition is intense, and Street earnings estimates are aggressive for next year, the analyst tells investors in a research note.