Bernstein lowered the firm’s price target on Hershey (HSY) to $146 from $177 and keeps a Market Perform rating on the shares ahead of quarterly results. The firm believes all eyes will be on the guidance on EPS for 2025. Cocoa input costs are still at high levels and the question is now whether they will start to come down before Hershey needs to start locking in hedges for 2026, Bernstein notes.
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