Deutsche Bank Maintains Hold on The Hershey Company

Deutsche Bank is out with its report today on The Hershey Company (NYSE: HSY), maintaining Hold.

In its report, Deutsche Bank writes, "Although Hershey's balance sheet is solid (0.6x net debt/EBITDA) and modest market share gains are being achieved, we remain cautious on several issues including: category growth, pricing vs. volume elasticity, valuation (a 25% P/E premium to the food group average which is in line with history), senior mgmt. transition. We retain our Hold opinion."

Deutsche Bank maintains a $58 PT on HSY.