Piper Sandler last night upgraded Hershey (HSY) to Neutral from Underweight with an unchanged price target of $167. The company’s initial plans to be “on-algorithm” in 2026 provides better visibility to its outlook, the analyst tells investors in a research note. While Hershey still expects cocoa to be inflationary, the headwind could moderate as the full 2026 cost picture gets clearer, adds Piper. The firm cites reduced uncertainty on Hershey’s outlook for the upgrade.
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