Hershey Stock Downgraded on Cocoa Inflation
HSYHershey(HSY) Schaeffers Investment Research·2024-08-27 22:10

Even with Halloween fast approaching, Citigroup is staying away from Hershey Co (NYSE:HSY). The analyst in question downgraded the stock to "sell" from "neutral," and lowered its price objective to $182 from $195, noting cocoa inflation and volume challenges may negatively impact earnings.HSY was last seen down 0.8% to trade at $194.80, but the 40-day moving average looks ready to contain this pullback. Shares have been retreating after jumping to their highest level since May earlier this month, and carry ...