Jefferies Boosts Numbers on Hershey (HSY) Following Q1

April 25, 2012 7:34 AM EDT Send to a Friend
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Price: $94.13 +0.30%

Rating Summary:
    6 Buy, 5 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Jefferies boosted its price target on Hershey (NYSE: HSY) from $60 to $67 following Q1 results but maintained its Hold rating.

The firm comments, "HSY’s 1Q12 adj. EPS of $0.95 (not adjusted for NSRPE) grew 32% and defied the otherwise poor packaged food trends. Organic revenue grew 10.4% and the adj. EBIT margin improved to 21.0%, the best 1Q result in at least 6 years. This performance was another demonstration of the exceptional nature of the CMG category but we consider it reflected in the high valuation premium over peers. We reiterate our Hold rating."

Q2 EPS goes from $0.63 to $0.61, FY12 goes from $3.10 to $3.15 and FY13 goes from $3.35 to $3.46.

For an analyst ratings summary and ratings history on Hershey click here. For more ratings news on Hershey click here.

Shares of Hershey closed at $66.00 yesterday.


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