Shares of Hershey Co (NYSE: HSY) rose in premarket trading on Monday.
The candy company’s market share and volume trends have improved significantly in recent months, according to Bernstein.
The Hershey Analyst: Alexia Howard upgraded the rating for Hershey from Market Perform to Outperform, while raising the price target from $220 to $235.
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The Hershey Thesis: The company’s trends have improved since the launch of Reese’s caramels, Howard said in the upgrade note.
The analyst mentioned three other reasons for the upgrade:
- Robust top line growth continues with cocoa spot prices …
Full story available on Benzinga.com