Barclays analyst Andrew Lazar lowered the firm’s price target on Hershey to $218 from $265 and keeps an Equal Weight rating on the shares. While volumes have been the prevailing narrative in staples for several months now, the risk of GLP-1s as a secular headwind and the cyclical drag of higher rates “have taken center stage in the past week,” the analyst tells investors in a research note. The firm changed the price target in a preview of the sector’s Q3 earnings reports.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HSY:
- Hershey put volume heavy and directionally bearish
- America’s food giants forced to confront Ozempic, weight loss drugs, WSJ says
- Novo Nordisk’s (NYSE:NVO) Ozempic Versus Snack Companies: The Debate Continues
- Fly Insider: MEI Pharma, Kellogg among week’s notable insider trades
- Hershey price target lowered to $240 from $285 at Piper Sandler
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue