Citi keeps a Sell rating on Hershey (HSY) with a $159 price target after the company announced that its longtime CEO Michele Buck plans to retire on June 30, 2026. Hershey also reiterated its 2024 guidance and indicated that its 2025 outlook would be provided when it reports earnings next month, the analyst tells investors in a research note. Citi views the announcement as a surprise, but says food CEOs have been long tenured, so 2025 might mark a higher turnover year.
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