Candy maker The Hershey Company (HSY) on Thursday saw its price target and earnings estimates raised by analysts at Goldman Sachs.
Goldman said it now expects HSY shares to reach $66, suggesting a 14% upside to the stock’s Wednesday closing price of $57.91.
The firm also maintained its “Neutral” rating on HSY but lifted its earnings estimates, citing expectations for margin expansion in upcoming quarters.
Hershey shares were unchanged in premarket trading Thursday.
The Bottom Line
Shares of Hershey (HSY) have a 2.38% dividend yield, based on last night’s closing stock price of $57.91. The stock has technical support in the $52-$54 price area. If the stock can firm up, we see overhead resistance around the all-time highs of $59-$64 a share.
The Hershey Company (HSY) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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