UPDATE: Goldman Sachs Raises Price Target On Hershey Yo $66

According to Goldman Sachs, Hershey (NYSE: HSY) price target is raised to $66.

Goldman Sachs said that it is maintaining its Neutral rating but raising the price target to reflect a higher earnings outlook and appreciation for the company's healthy balance sheet. “We are raising our 12-month P/E- and EV/EBITDA-derived price target to $66, from $62, on a higher earnings base and a modestly higher multiple with the new inclusion of an EV/EBITDA component in our derivation.”

Hershey closed yesterday at $57.91.