UPDATE: Deutsche Bank Raises PT on Hershey from $64 to $66
Deutsche Bank maintained a Hold rating on The Hershey Company (NYSE: HSY) and raised its price target from $64 to $66.
Deutsche Bank commented, “While Hershey remains the leading chocolate company in the U.S., has a pristine balance sheet and is gaining traction in select international markets, we remain cautious. We have some concerns over core volume trends. Combined with valuation (2013 P/E of 21x or 40% premium to the peer group), we retain our HOLD opinion.”
The Hershey Company closed at $71.43 on Thursday.
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