Candy maker The Hershey Company (HSY) on Thursday saw its coverage initiated with a “Hold” rating by analysts at Jefferies & Co.
The firm also set a $58 price target on HSY shares, suggesting zero upside to the stock’s Wednesday closing price of $58.21.
A Jefferies analyst commented, “We consider the company fairly valued given a good long term outlook due to international opportunities and the strength and growth outlook of its categories. In the near term this is offset by challenges due to a pending retail price increase, strong innovation comps and potentially no inflation relief.”
Hershey shares were mostly flat in premarket trading Thursday.
The Bottom Line
Shares of Hershey (HSY) have a 2.37% dividend yield, based on last night’s closing stock price of $58.21. The stock has technical support in the $54 price area. The shares are beginning to approach all-time high levels in the $60-$64 price range.
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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