Hershey (HSY) in the Sweet Spot
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Price: $170.27 -0.69%
Rating Summary:
11 Buy, 20 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 62
Rating Summary:
11 Buy, 20 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 62
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Shares of Hershey (NYSE: HSY) are sharply higher Tuesday following positive commentary from analysts at Goldman Sachs after the company's analyst day which saw it: raise its long-term sales and earnings growth targets, provide clarity on international growth and provide an update on its expense outlook.
"The analyst day bolstered our confidence that HSY is near the sweet spot of
its emerging market distribution build out," the analyst said. "Its momentum in Mexico and Brazil continues, and results suggest it has found a recipe for success in China."
Goldman boosted its price target from $76 to $78 and raised FY13/FY14 EPS estimates to $3.66/$4.06 from $3.64/$3.98. They are now 4% above the Street for FY13 and 7% above in FY14.
The reiterated their Conviction Buy Lit rating on the stock.
For an analyst ratings summary and ratings history on Hershey click here. For more ratings news on Hershey click here.
Shares of Hershey are up 2.7 percent to $70.27.
"The analyst day bolstered our confidence that HSY is near the sweet spot of
its emerging market distribution build out," the analyst said. "Its momentum in Mexico and Brazil continues, and results suggest it has found a recipe for success in China."
Goldman boosted its price target from $76 to $78 and raised FY13/FY14 EPS estimates to $3.66/$4.06 from $3.64/$3.98. They are now 4% above the Street for FY13 and 7% above in FY14.
The reiterated their Conviction Buy Lit rating on the stock.
For an analyst ratings summary and ratings history on Hershey click here. For more ratings news on Hershey click here.
Shares of Hershey are up 2.7 percent to $70.27.
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