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.
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