Hershey Upgraded to “Outperform” at Wells Fargo (HSY)

By
A A A
Share |

Candy maker The Hershey Company ( HSY ) on Thursday saw its rating and earnings estimates boosted by analysts at Wells Fargo.

The firm said it upgraded HSY from "Market Perform" to "Outperform" with a valuation range of $55-57. That range implies a 13% to 17% upside to the stock's Wednesday closing price of $48.79.

A Wells Fargo analyst commented, "We believe that Hershey's investments in consumer marketing, selling capabilities, and innovation over the past several years position the company for better-than-expected top and bottom line growth over the next few years. We are raising our 2011 EPS estimate to $2.82 from $2.76 (versus $2.76 consensus) and our 2012 estimate to $3.10 from $3.00 (versus $2.98 consensus) as a result."

Hershey shares rose 51 cents, or +1.1%, in premarket trading Thursday.

The Bottom Line
Shares of Hershey ( HSY ) have a 2.62% dividend yield, based on last night's closing stock price of $48.79. The stock has technical support in the $44 price area. If the shares can firm up, we see overhead resistance around the $50-$52 price levels.

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.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: HSY

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

183,639,073
  • $42.32 ▲ 3.85%
82,623,623
  • $15.99 ▼ 22.79%
39,547,942
  • $119 ▲ 1.19%
32,107,751
  • $77.62 ▲ 2.63%
29,684,848
  • $10.60 ▲ 2.02%
27,615,309
  • $24.03 ▲ 0.38%
26,917,669
  • $31.10 ▲ 2.07%
26,464,306
  • $47.75 ▲ 0.59%
As of 11/26/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com