Deutsche Bank upgraded Hershey (NYSE: HSY) from Hold to Buy with a price target of $108.00 (from $90.00).
Analyst Eric Katzman cited: (1) current CEO Bilbrey and his senior management team methodically building Hershey’s emerging market presence, (2) solid leadership and decent growth prospects in the highly profitable U.S. market, (3) FCF growth / efficiency in excellent shape with usage logical, and (4) valuation palatable, at least when viewed through our quadrant analysis.
For an analyst ratings summary and ratings history on Hershey click here.
Shares of Hershey closed at $97.00 yesterday, with a 52 week range of $73.64-$101.37.
