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Goldman Sachs Reaffirms “Conviction Buy List” Rating for Hershey’s (HSY)

By Dividend.com,  November 12, 2012, 09:14:03 AM EDT

Goldman Sachs reiterated its optimistic stance on The Hershey Company ( HSY ) on Monday after meetings with the CEO and CFO of the candy giant.

The analysts give HSY its highest rating of "Conviction Buy" and a price target of $81. That target is a +15.1% upside from Friday's closing price of $70.35.

Goldman Sachs believes that Hershey's is the leader in its market; it will see positive growth in 2013 which will fuel low to mid-teens earnings per share growth.

Hershey shares were flat in premarket trading on Monday. The stock is up $8.57, or +13.87%, year to date.

The Bottom Line
Shares of Hershey Foods ( HSY ) will now have a 2.39% dividend yield, based on Friday's closing stock price of $70.35. The stock has technical support in the $66-$68 price area. The stock is trading near the all-time high range of $72-$74 a share.

The Hershey Company ( HSY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: HSY



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