Piper Sandler Reiterates Neutral Rating on Hershey (HSY)

Piper Sandler analyst Michael Lavery reiterated a Neutral rating and $168.00 price target on Hershey (NYSE: HSY).

The analyst said: "We previously expected cocoa costs to moderate in 2H25, though this hasn't been the case. We then assumed elevated cocoa futures costs might hold steady, but they have risen even further. With our cost expectations further elevated, we are now assuming more aggressive productivity savings in 2025 and 2026, though significant productivity savings do eventually have limits. HSY has been buying options, too, so it can benefit if costs come down, but our estimates may prove optimistic otherwise. We maintain our $8.15 2025E EPS, $9.35 2026E EPS and $168 PT."

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 $177.82 yesterday.

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