Hershey price target raised to $216 from $214 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Hershey to $216 from $214 and keeps a Buy rating on the shares after its Q4 earnings beat and in-line guidance. Cocoa and sugar costs are poised to be meaningful gross margin headwinds next year, but SG&A, which has grown meaningfully over the past three years, is planned to prove the offset as management resets incentive compensation and embarks on a new productivity program, the analyst tells investors in a research note.