JPMorgan analyst Ken Goldman, who has previously said that Mondelez (MDLZ) could become a takeover target at some point for Kraft Heinz (KHC), responded to press reports that Mondelez (MDLZ) has offered to buy Hershey (HSY) by saying that at least part of its rationale for such a bid may be defensive in nature, but that such a tie-up could be advantageous to both companies. Goldman adds that he no longer thinks a Hershey buyout deal is impossible, noting that media reports indicate the deal talks have been ongoing for months and that the Hershey Trust may be more open than it has been in the past to a deal. The firm has an Overweight rating on Mondelez with a $47 price target and a Neutral rating on Hershey with an $87 price target.