Hershey price target lowered to $240 from $285 at Piper Sandler

Piper Sandler lowered the firm’s price target on Hershey to $240 from $285 and keeps an Overweight rating on the shares. Hershey is one of the best positioned names in the firm’s food coverage and Piper expects its momentum to continue, and Hershey looks well-positioned for Halloween, where it has a greater share of shelf from its out-performance last year, the analyst tells investors in a research note. Cocoa and sugar costs are up, but manageable, the firm contends.