JP Morgan Maintains Overweight Rating on Hershey

A report from J.P. Morgan reiterates its Overweight rating on Hershey (NYSE: HSY).

The report states, “The Hershey Co. reported 3Q11 earnings this morning. Though the pro forma $0.84/sh figure matched the Bloomberg consensus, we believe that general investor expectations were for a beat and a raise. Guidance for FY12 also came in softer than what the sellside was forecasting. We expect a challenging day for the stock."

HSY closed yesterday at $59.88.