Deutsche Bank analyst Steve Powers raised the firm’s price target on Hershey to $251 from $237 and keeps a Hold rating on the shares after attending its investor day. In the firms opinion, Hershey sounded a confident and credible tone on its current momentum. Future growth is expected to be aided by: capacity investments in confection and salty snacks; expansions into whitespace opportunities; and capabilities investments in media/marketing, R&D, commercial/retail execution, and supply chain, the analyst tells investors. Hershey also reaffirmed its FY23 guidance.
Published first on TheFly
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