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 182from182 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 ...