Hershey price target lowered to $199 from $213 at Citi

Citi analyst Thomas Palmer lowered the firm’s price target on Hershey to $199 from $213 and keeps a Neutral rating on the shares ahead of the Q1 report on May 3. The analyst thinks the company’s sales could come in slightly below estimates. Hershey’s takeaway trends “look a bit sluggish” when adjusting for the earlier Easter, the analyst tells investors in a research note. However, the firm does not expect this to translate to earnings downside in the quarter.