Goldman Sachs Upgrades Hershey to Neutral (HSY)

Goldman Sachs is out with its report today on Hershey HSY, upgrading HSY from Sell to Neutral. In a note to clients, Goldman Sachs writes, "We upgrade HSY to Neutral from Sell, as we no longer see downside risk to consensus estimates. We raised our EPS estimates last week after HSY followed its competitors' lead in raising prices. We now see 10% EPS growth this year and next versus guidance of +6%-8%. We also expect an increase to its share repurchase authorization in the next few months." At the time of posting, shares of HSY were trading pre-market at $56.27, up 1.01% from Friday's close.