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UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on The Hershey Company

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In a report published Friday, Jefferies & Company reiterated its Hold rating on The Hershey Company (NYSE: HSY), and raised its price target from $73.00 to $75.00.

Jefferies noted, “HSY's 3Q12 results came in as expected and the company continues to do very well, unlike some of its U.S. packaged food peers. The outlook for FY13 is in line with the long term targets and the fact that management is already willing to provide targets for next year demonstrates the stability of the company's performance. However at 20x NTM earnings the stock also appears fully valued and we maintain our Hold rating.”

The Hershey Company closed on Thursday at $69.85.

Latest Ratings for HSY

DateFirmActionFromTo
Jul 2014Credit SuisseMaintainsNeutral
Jul 2014JP MorganMaintainsOverweight
Jul 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for HSY
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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