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Fly News Breaks for December 20, 2019
HSY
Dec 20, 2019 | 06:22 EDT
BofA/Merrill analyst Bryan Spillane downgraded Hershey to Neutral from Buy with a price target of $155, down from $165. The analyst cites valuation for the downgrade. While he believes Hershey will continue to execute well in fiscal 2020, he sees limited upside to the current valuation with the stock trading at a 25% premium to the market and a 15% premium to consumer staples peers.
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