Jefferies Maintains a 'Hold' on Hershey (HSY); Results Better Than Expected
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Price: $168.33 -0.08%
Rating Summary:
11 Buy, 20 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 31
Rating Summary:
11 Buy, 20 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 31
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Jefferies maintains a 'Hold' on Hershey (NYSE: HSY) price target raised from $58 to $60.
Jefferies analyst says, "HSY reported 4Q11 adj. EPS of $0.70, in line with consensus and 1 cent ahead of our forecast. The company raised FY12 adj. EPS growth guidance to 9-11%, with half of the 3 pt. increase coming from changes in the accounting of nonservice pension expenses. The underlying business was better than we expected as volumes were less impacted by price increases than we would have thought."
"To reflect the new guidance we are raising our FY12 adj. EPS est. to $3.10 (excl. the pension impact, as we do not consider it one-time), twds the higher end of the comparable $2.99-$3.13 range. We are raising our FY13 estimate to $3.35."
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 $61.30 yesterday.
Jefferies analyst says, "HSY reported 4Q11 adj. EPS of $0.70, in line with consensus and 1 cent ahead of our forecast. The company raised FY12 adj. EPS growth guidance to 9-11%, with half of the 3 pt. increase coming from changes in the accounting of nonservice pension expenses. The underlying business was better than we expected as volumes were less impacted by price increases than we would have thought."
"To reflect the new guidance we are raising our FY12 adj. EPS est. to $3.10 (excl. the pension impact, as we do not consider it one-time), twds the higher end of the comparable $2.99-$3.13 range. We are raising our FY13 estimate to $3.35."
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 $61.30 yesterday.
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