UPDATE: Goldman Sachs Dowgrades Hershey Company to Neutral on Diminished Upside

Goldman Sachs downgraded Hershey Company

from Conviction Buy to Neutral and raised the price target from $84.00 to $86.00. Goldman Sachs noted, "We remove shares of HSY from the Americas Conviction List and Americas Buy List and downgrade to Neutral, as potential upside to our new $86, 12-month price target becomes less compelling following the stock's recent strength. We believe Staples Global Growth peers MJN and MDLZ (both CLBuy) offer more compelling returns over the next 12 months. Following 4Q12 earnings, we raise FY13/FY14 EPS estimates 1%." Hershey Company closed at $80.14 on Friday.