Hershey (HSY) PT Lowered to $230 at DA Davidson to Reflect Peer Multiple Compression
DA Davidson analyst Brian Holland lowered the price target on Hershey (NYSE: HSY) to $230.00 (from $243.00) while maintaining a Neutral rating.
The analyst commented, "HSY-NEUTRAL ($230 PT from $243, reflecting peer group multiple contraction) provided a thoughtful look forward, detailing how it will leverage an iconic confection franchise with a differentiated salty portfolio through its One Hershey commercial model and proven innovation pipeline, among others. The stock's underperformance on the day reflects an initial FY27 outlook that brackets consensus despite ongoing cocoa deflation, and some skepticism around hopes for a stable demand environment. No change to estimates, but we see a path to FY27 upside if cocoa / consumer / competition cooperate."