Target price updated

Since we last discussed Hershey’s (HSY) ratings and recommendations in our pre-earning series, Wall Street analysts have updated their target prices for the next 12 months. This follows Hershey’s 2Q16 results. However, recommendations remain the same. Around 94% of analysts still rate Hershey a “hold,” and 6% rate it a “sell.” No analysts rate it a “buy.”

Analyst Recommendations for Hershey after Its 2Q16 Results

Analyst target prices for Hershey

The average broker target price for Hershey has risen by 11% to $106, from $95.50. The stock closed at $110.76 on July 29, 2016, which was 4% higher than the estimate.

Its peers’ target prices and return potentials as of July 29 are as follows:

  • Mondelez (MDLZ): target price of $50.31, surpassing estimates by 14%
  • ConAgra Foods (CAG): target price of $51.41, with a potential to rise by 10%
  • Campbell Soup (CPB): target price of $63.92, surpassing estimates by 3%

The First Trust NASDAQ-100 Equal Weighted ETF (QQEW) invests in MDLZ.

Credit Suisse increased its target price for Hershey

Credit Suisse has given Hershey the highest target price of $112. It increased by 23% after the 2Q16 earnings results. This represents a potential to rise by 1.1% compared to its closing price on July 29, 2016. The firm rates it a “hold.”

Barclays and Morgan Stanley have given Hershey the second-highest target price of $110. Hershey already beat this target by 0.69% as of July 29. Both firms rate it a “hold.” Bernstein has assigned Hershey the lowest target price of $98.

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.