Wells Fargo Upgrades Hershey (HSY) to Equal Weight

Wells Fargo analyst Chris Carey upgraded Hershey (NYSE: HSY) from Underweight to Equal Weight with a price target of $182.00 (from $157.00).

The analyst comments "We're upgrading shares of HSY to Equal Weight from Underweight, following this deeper dive on the margin bridge amid cocoa and tariff relief. We aren't chasing shares, though, with EPS power well contemplated, valuation rich, and cocoa volatile. Upgrade HSY to Equal Weight from Underweight. We raise our target to $182 on ~22.5x our CY27e EPS (was $157). P/E methodology herein. Pretty simple: our prior view was based on EPS downside (a revision which happened): we're now in-line on EPS and see upside. That in mind, "EPS power" is contemplated (among highest P/E in core Stales), a NT risk "risk case" on P/E implies downside potential to ~$160/share, and cocoa is still volatile. All-in, we see shares bound to a wide trading range in 2026."

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 $182.41 yesterday.

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