Stifel lowered the firm’s price target on Hershey (HSY) to $160 from $170 and keeps a Hold rating on the shares after the company reported a stronger than expected fourth quarter. Initial FY25 guidance calls for at least 2% sales growth and an EPS decline in the range of 36% to 34% due to significant cocoa inflation and other factors, notes the analyst, who now estimates FY25 EPS of $6.13, reflecting a nearly 35% decline.
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