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Fly News Breaks for June 13, 2018
Jun 13, 2018 | 07:49 EDT
As previously reported, Credit Suisse analyst Robert Moskow downgraded Hershey to Underperform from Neutral and lowered his price target on the shares to $80 from $90. The analyst believes that the shift in shopping patterns to more convenient methods like online and click-and-collect will materially reduce the number of impulse purchase occasions for confectionery products merchandised at traditional checkout aisles. Moskow expects Hershey's operating margin to head lower over the next two years as it increases its investment spending to contend with this challenge and struggles to raise prices to offset higher cocoa input costs.
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