Hershey price target lowered to $140 from $150 at Wells Fargo

Wells Fargo lowered the firm’s price target on Hershey (HSY) to $140 from $150 and keeps an Underweight rating on the shares. On January 10, Hershey announced that CEO Michele Buck plans to retire, which Wells sees as an opportunity to set more reasonable EPS with 2025 guidance before the next CEO assumes the role, the analyst tells investors in a research note. The recent newsflow implies an upside bias to 2025e inflation, the firm says, adding that cocoa is still inflationary in 2026,, so a sharp “snapback” in 2026 EPS looks to be off the table.