As previously reported, Credit Suisse upgraded Hershey to Outperform from Neutral and raised its price target to $117 from $106. Analyst Robert Moskow believes management can achieve above-peer returns and is set up over the next 12 months with positive earnings revisions driven by a strong 2016 finish due to strong seasonally confectionery sales in the US and significant flexibility in guidance, further room to "right size" the overhead costs of the business to adjust to a more realistic outlook for growth, a drop in cocoa commodity costs, and above-peer sales growth fueled by a longer Easter selling season and product innovation in the US. The analyst's 2017 earnings estimate is 5c above consensus and expects the March 1 investor day to be a positive catalyst for shares.