Hershey price target lowered to $270 from $315 at Argus

Argus analyst Taylor Conrad lowered the firm’s price target on Hershey to $270 from $315 but keeps a Buy rating on the shares. The company is benefiting from small, more frequent price increases, more focused marketing and supply-chain investments, and the recent acquisitions of Lily’s confectionary brand, Dot’s Pretzels, and Pretzels Inc, the analyst tells investors in a research note. The stock’s valuations are at the high end of the normal range, but are justified by Hershey’s current outlook and performance history, the firm added.