Hershey price target lowered to $200 from $249 at Piper Sandler
Piper Sandler lowered the firm's price target on Hershey to $200 from $249 and keeps an Overweight rating on the shares. The firm has been bullish on Hershey's earnings upside from favorable cocoa costs, but recent moves in cocoa futures suggest there could be less 2027 EPS upside than it had expected. While initial 2027 EPS growth guidance of 15%-20% allowed for volatility and does not appear to be at risk, meaningful upside vs. this level now looks less likely, argues Piper.
Piper Sandler lowered the firm's price target on Hershey to $200 from $249 and keeps an Overweight rating on the shares.
The firm has been bullish on Hershey's earnings upside from favorable cocoa costs, but recent moves in cocoa futures suggest there could be less 2027 EPS upside than it had expected.
While initial 2027 EPS growth guidance of 15%-20% allowed for volatility and does not appear to be at risk, meaningful upside vs. this level now looks less likely, argues Piper.