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Fly News Breaks for April 20, 2017
HSY
Apr 20, 2017 | 07:50 EDT
Credit Suisse analyst Robert Moskow says Hershey may be vulnerable to a short-term pullback in its stock because its valuation multiple historically depends quite heavily on top-line growth. However, with its earnings base poised for such a significant step-up in 2018 from the benefits of cocoa cost deflation and restructuring savings, the analyst would recommend buying the stock on weakness. He reiterates an Outperform rating and $121 price target on the shares.
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