Analysts at Citigroup on Monday lifted their price target on candy maker The Hershey Company (HSY).
The firm maintained its “Buy” rating on HSY and raised its price target from $69 to $71. That new target suggests a 15% upside to the stock’s Friday closing price of $61.69.
A Citigroup analyst commented, “We expect Hershey to report in-line 1Q12 results on 4/24, representing strong 12% EPS growth. Recent FDM data trends show HSY continuing to perform well, with +13.5% unit pricing growth across its portfolio, which we believe should drive a 165 bps improvement in 1Q12 gross margins.”
Hershey shares posted modest gains in early trading Monday.
The Bottom Line
Shares of Hershey (HSY) have a 2.46% dividend yield, based on Friday’s closing stock price of $61.69. The stock has technical support in the $56-$58 price area. The stock is trading near all-time highs of $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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