Wells Fargo analyst Chris Carey raised the firm’s price target on Hershey to $275 from $255 and keeps an Equal Weight rating on the shares. Hershey’s Q1 saw some timing benefit, underlying volumes and margin upside give flexibility to FY23 EPS, with pricing visibility into FY24+ all while elasticities are holding in better than expected, the analyst tells investors in a research note.
Published first on TheFly
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Read More on HSY:
- Hershey price target raised to $265 from $245 at Barclays
- Hershey Declares Quarterly Dividends
- Hershey sees FY23 adjusted EPS $9.29-$9.46, consensus $9.42
- Hershey reports Q1 adjusted EPS $2.96, consensus $2.66
- Hershey Reports First-Quarter 2023 Financial Results; Raises 2023 Net Sales and Earnings Outlook