Stifel lowered the firm’s price target on Hershey to $195 from $205 and keeps a Hold rating on the shares. The firm maintains a Neutral weighting for the Americas Food group, citing a valuation that is discounted compared to its history, pressured by weak volumes and an uncertain volume recovery. While the valuation is compelling in relation to its history, Stifel remains cautious, noting the uncertainty in revenue growth pacing in 2024 as volumes remain soft, the potential for promotional activity increases, and the risk of private label market share gains increases. Stifel advises investors to remain selective in their food exposure.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HSY:
- GLP-1 Anti-Obesity Drugs: Slim Waistlines, Fat Profits
- Hershey price target lowered to $200 from $212 at Barclays
- DA Davidson tech/software analysts to hold analyst/industry conference call
- Hershey price target raised to $191 from $186 at Morgan Stanley
- BellRing Brands price target raised to $57 from $53 at Morgan Stanley