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Fly News Breaks for May 30, 2019
May 30, 2019 | 08:58 EDT
Credit Suisse analyst Robert Moskow raised his price target for Hershey to $130 from $123 due to the improving retail sales trends in his most recent Nielsen tracking data and the positive tone he heard from members of management at this year's Sweet and Snacks Expo in Chicago. While the analyst recognizes that no food company comes to a trade show to give a pessimistic message to customers, he noticed a more upbeat tone from Hershey than last year and some compelling hard data to support it. Moskow reiterates a Neutral rating on the shares.
News For HSY From the Last 2 Days
Jul 18, 2019 | 06:19 EDT
Citi analyst David Driscoll raised his price target for Hershey to $170 from $140 and reiterates a Buy rating on the shares. The analyst sees pricing as driving "substantial upside" to consensus earnings over the next few years. The impacts from pricing upon Hershey's profitability are significant, with every point of pricing equating to 30c of earnings per share, all else equal, Driscoll tells investors in a research note. This suggests a "robust upcoming gross margin environment" for the company as its previously announced bagged chocolate price increase begins to take hold in Q2, adds the analyst. He raised his earnings estimates to reflect a "bullish pricing story."