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HSY

Hershey

$148.44

-0.36 (-0.24%)

06:21
01/16/20
01/16
06:21
01/16/20
06:21

Hershey earnings at risk from higher cocoa costs, says Piper Sandler

Ivory Coast and Ghana, which together produce over 60% of the global cocoa supply, have formed a partnership and plan to increase the price of cocoa by $400 per metric ton applying to product in the October 2020 crop and beyond, adding risk to Hershey's 2021 earnings estimates, Piper Sandler analyst Michael Lavery tells investors in a research note. All else equal, the impact could be as much as a 45c hit to the company's earnings per share, adds the analyst, though he expects "some puts and takes" and trim his 2021 earnings per share estimate by 15c to $6.35. He raised his price target for Hershey shares to $134 from $130 and reiterates an Underweight rating on the name. Lavery expects 1%-2% organic revenue growth and 5%-6% average earnings growth for Hershey over the next three years.

  • 30

    Jan

HSY Hershey
$148.44

-0.36 (-0.24%)

12/11/19
12/11/19
INITIATION
Target $155

Hold
Hershey resumed with a Hold at Deutsche Bank
Deutsche Bank analyst Steve Powers resumed coverage of Hershey with a Hold rating and $155 price target. The analyst is positive on the management's efforts to revitalize the company's core confectionary brands while also focusing on productivity and "selectively" expanding into snacks with "bolt-on" M&A. Powers contends however that the company's long-term targets of growing revenue by 2%-4% and earnings by 6%-8% look to be "somewhat aggressive". The analyst further states that the intense competition and health/wellness trends run opposite to Hershey's expansion, making the company's objectives less sustainable.
12/20/19
BOFA
12/20/19
DOWNGRADE
BOFA
Neutral
Hershey downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Hershey to Neutral from Buy.
12/20/19
BOFA
12/20/19
DOWNGRADE
Target $155
BOFA
Neutral
Hershey downgraded to Neutral on valuation at BofA/Merrill
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.
12/20/19
12/20/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Michaels (MIK) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman saying while the company is trying to transform, it is challenged by declining core comparable sales, a continuing ramp up in competition and the liquidation of A.C. Moore. 2. Galapagos (GLPG) downgraded to Neutral from Buy at UBS. 3. CalAmp (CAMP) downgraded to Neutral from Outperform at First Analysis with analyst Howard Smith saying after the company's "mixed" Q3 results, he feels the company's margin profile is not following suit with management commentary, "suggesting expansion is being delayed at least a few quarters." 4. Hershey (HSY) downgraded to Neutral from Buy at BofA/Merrill with analyst Bryan Spillane citing valuation. 5. BOK Financial (BOKF) downgraded to Neutral from Outperform at Wedbush with analyst Peter Winter saying BOK Financial is "a high quality company with a strong management team," but also one that is very asset sensitive. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

TSM

TSMC

$58.58

-0.18 (-0.31%)

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KKR

KKR

$31.20

0.7 (2.30%)

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Apollo Global

$50.35

1.26 (2.57%)

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KKR

KKR

$31.20

0.7 (2.30%)

APO

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$50.35

1.26 (2.57%)

ARES

Ares Management

$37.29

0.47 (1.28%)

BX

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$60.79

0.62 (1.03%)

CG

Carlyle Group

$33.30

0.36 (1.09%)

HLNE

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-0.02 (-0.03%)

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    Feb

SPCE

Virgin Galactic

$15.65

0.685 (4.58%)

, TWNK

Hostess Brands

$14.03

0.02 (0.14%)

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'Blank-check' companies hot on Wall Street, Barron's says »

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SPCE

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$15.65

0.685 (4.58%)

TWNK

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$14.03

0.02 (0.14%)

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, NFLX

Netflix

$339.56

0.89 (0.26%)

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

NFLX

Netflix

$339.56

0.89 (0.26%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

, WMT

Walmart

$114.93

-0.96 (-0.83%)

08:36
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Casper IPO highlights tech's promise, troubles, Barron' says »

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

WMT

Walmart

$114.93

-0.96 (-0.83%)

CSPR

Casper Sleep

$0.00

(0.00%)

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BA

Boeing

$324.11

-7.89 (-2.38%)

, DDAIF

Daimler AG

$0.00

(0.00%)

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BA

Boeing

$324.11

-7.89 (-2.38%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$13.76

-0.14 (-1.01%)

VWAGY

Volkswagen

$0.00

(0.00%)

FSLR

First Solar

$53.51

-0.42 (-0.78%)

AAPL

Apple

$318.66

3.33 (1.06%)

DQ

Daqo New Energy

$53.61

-0.025 (-0.05%)

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  • 28

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SPOT

Spotify

$148.20

-3.59 (-2.37%)

18:15
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Spotify in talks to acquire The Ringer, WSJ reports »

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  • 05

    Feb

CE

Celanese

$117.54

-0.53 (-0.45%)

18:00
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Celanese announces acetyl intermediates price increases »

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  • 31

    Jan

BYND

Beyond Meat

$109.20

-1.16 (-1.05%)

17:58
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Beyond Meat rival gets green light in Canada, The Star says »

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DBD

Diebold

$11.09

-0.49 (-4.23%)

17:42
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Periodicals
Breaking Periodicals news story on Diebold »

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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

, SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

17:32
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General news
Weekly CFTC Commitment of Traders highlights »

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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

SLV

iShares Silver Trust

$16.82

0.04 (0.24%)

GLD

SPDR Gold Shares

$146.59

0.29 (0.20%)

FXE

Euro Currency Trust

$105.10

-0.43 (-0.41%)

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UBSFY

Ubisoft

$0.00

(0.00%)

17:32
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Ubisoft to restructure editorial team after difficult 2019, VGC reports »

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  • 17

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IMVT

Immunovant

$17.04

-0.01 (-0.06%)

17:27
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Syndicate
Breaking Syndicate news story on Immunovant »

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TBLT

ToughBuilt

$0.33

-0.0255 (-7.11%)

17:20
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Syndicate
ToughBuilt files to sell common stock, no amount given »

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MYO

Myomo

$0.32

0.0062 (1.98%)

17:18
01/17/20
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Conference/Events
Myomo to host special shareholder meeting »

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  • 21

    Jan

SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

17:14
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Conference/Events
Sierra Oncology to host virtual special shareholder meeting »

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  • 21

    Jan

SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

17:10
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Breaking Syndicate news story on Sorrento Therapeutics »

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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

17:01
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Akers Biosciences reaches settlement agreements on two derivative actions »

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ECA

Encana

$4.09

-0.18 (-4.22%)

16:40
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Encana receives court approval for reorganization »

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  • 29

    Jan

MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

16:38
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Breaking Syndicate news story on Moleculin Biotech »

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

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BT, Vodafone consider urging PM Johnson not to ban Huawei in U.K., Reuters says »

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

BT

BT Group

$0.00

(0.00%)

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16:30
01/17/20
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Options
Preliminary option volume of 28.7M today »

Preliminary option volume…

NSCO

Nesco Holdings

$5.12

0.025 (0.49%)

16:26
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Nesco Holdings requests withdrawal of registration statement »

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GPS

Gap

$18.54

-0.075 (-0.40%)

, CMCSA

Comcast

$47.48

0.62 (1.32%)

16:20
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GPS

Gap

$18.54

-0.075 (-0.40%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

CMCSK

Comcast

$0.00

(0.00%)

PLAY

Dave & Buster's

$47.35

5.3 (12.60%)

KKR

KKR

$31.20

0.7 (2.30%)

BA

Boeing

$324.11

-7.89 (-2.38%)

JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

SWK

Stanley Black & Decker

$172.63

2.18 (1.28%)

TWOU

2U

$22.84

1.05 (4.82%)

BE

Bloom Energy

$9.70

0.43 (4.64%)

MGPI

MGP Ingredients

$38.16

-14.74 (-27.86%)

FAST

Fastenal

$36.77

-0.55 (-1.47%)

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APLS

Apellis

$40.43

0.03 (0.07%)

16:18
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Hot Stocks
Apellis CEO sells 30.6K shares of common stock »

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