Candy giant The Hershey Company ( HSY ) on Monday saw its price target raised by analysts at Credit Suisse.
The firm said it lifted its target for HSY from $55 to $56. That new target implies a nearly 8% upside to the stock's Friday closing price of $51.95.
Credit Suisse also noted the company is its favorite packaged foods pick now, following its presentations last week. The analyst currently rates Hershey as an "Outperform."
Hershey shares were mostly flat in premarket trading Monday.
The Bottom Line
Shares of Hershey ( HSY ) have a 2.66% dividend yield, based on Friday's closing stock price of $51.95. The stock has technical support in the $46-$48 price area. If the shares can continue to move higher, we see overhead resistance around the $55 price level.
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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