Mizuho lowered the firm’s price target on Hershey (HSY) to $180 from $200 and keeps a Neutral rating on the shares. Following a “generally lackluster” Q3 earnings season for the food producers, characterized by value-seeking consumers, varied degrees of market share pressure from private label, and now concerns over “Make America Healthy Again” related disruptions to ingredients and regulations for processed food, Mizuho expect sentiment for the group will remain muted into Q4 earnings, the analyst tells investors in a research note.
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