Candy maker The Hershey Company (HSY) on Wednesday caught some bullish commentary from analysts at Goldman Sachs.
The firm said it added HSY to its prestigious “Conviction Buy” List with a $76 price target. That target suggests a 12% upside to the stock’s Tuesday closing price of $67.57.
Goldman also unveiled 2013 and 2014 EPS estimates of $3.64 and $3.98, which are above the consensus Wall Street estimates. The analyst commented, “Our path to nearly $4 in 2014 anticipates abatement of input cost inflation in FY13, a return to normalized category growth in North America next year and continued momentum in HSY’s emerging markets.”
Hershey shares were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Hershey Company (HSY) have a 2.25% dividend yield, based on last night’s closing stock price of $67.57. The stock has technical support in the $62-$63 price area. The shares are trading right near all-time highs.
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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