Jefferies raised its price target for Hershey to $205 from $220 while maintaining a 'Hold' rating ahead of the company's Q1 earnings report due April 30. The firm views the quarter as a turning point as Hershey moves past peak cocoa inflation, expecting margin recovery later in the year despite elevated input costs. North America organic sales growth is forecasted at about 7% year-over-year, driven by pricing, though volume pressure remains a concern. Jefferies highlights improving cocoa costs and innovation as key to stabilizing profits and volumes, but remains cautious due to leadership changes and valuation levels.
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Hershey is now considered an attractive investment after a period of underperformance, offering a 3.3% dividend yield. The company is experiencing net sales growth and improving gross margins, driven by pricing strategies and supply chain efficiencie...
