RBC Capital says the firm’s channel work indicates Mars told retailers and wholesalers it will be taking a price increase in December. Mars is taking pricing across its entire portfolio, including instant consumables, and RBC’s channel work suggests pricing of 10%-11% on chocolate, 11%-12% on non-chocolate, 16% on gum and 10% on mints, the analyst tells investors in a research note. RBC views this as a near-term positive data point for Hershey.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HSY:
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Micron reports Q4 beat, Pfizer withdraws Oxbryta: Morning Buzz
- Starbucks upgraded, Hershey downgraded: Wall Street’s top analyst calls
- Mondelez price target raised to $85 from $79 at Evercore ISI
- Jefferies downgrades Hershey to Underperform on structural risks