Hershey price target lowered to $134 from $150 at Jefferies

Jefferies lowered the firm’s price target on Hershey (HSY) to $134 from $150 and keeps an Underperform rating on the shares. The firm’s work on cocoa makes it more cautious than it was in 2024 as it believes another supply deficit year would keep cocoa prices elevated for longer, the analyst tells investors.