DA Davidson lowered the firm’s price target on Hershey (HSY) to $187 from $193 and keeps a Neutral rating on the shares. Six months ago, the firm believed that the stock could begin to work once cocoa prices peaked, but it is now clear that Hershey is facing mounting threats to share which, should they persist, could ultimately alter the long term algorithm, the analyst tells investors in a research note. The headwinds of gradual incursion from emerging players and GLP-1 adoption may also be structural, the firm added.
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Read More on HSY:
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- Hershey price target lowered to $181 from $190 at Deutsche Bank
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