Hershey Hit with Analyst Downgrade As Chocolate Segment Melts
Hershey(HSY) Investopedia·2024-09-27 05:55
Key TakeawaysJefferies analysts downgraded Hershey to underperform and lowered their price target.The firm said chocolate is trailing other snacks in volume growth and is being bought less frequently despite being the largest category in dollar sales.Inflation of cocoa prices is causing chocolate producers to face much higher costs. Shares of Hershey Co. (HSY) was dropped to underperform by Jefferies analysts, calling chocolate “amongst the most concerning” segments of the US snack sector in a note Thursday ...