Mizuho lowered the firm’s price target on Hershey to $180 from $195 and keeps a Neutral rating on the shares. The company’s Q3 confirmed softening retail takeaway, and its pricing adjustments may be advisable despite lingering cost inflation, the analyst tells investors in a research note. The firm says that following three years of elevated consumption during COVID, confectionery may be resuming a longer term history of per capita declines.
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