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 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.