B of A Securities Maintains Buy Rating for Hershey: Here's What You Need To Know

B of A Securities has decided to maintain its Buy rating of Hershey HSY and raise its price target from $280.00 to $300.00.

Shares of Hershey are trading down 0.64% over the last 24 hours, at $271.59 per share.

A move to $300.00 would account for a 10.46% increase from the current share price.

About Hershey

Hershey is a leading confectionery manufacturer in the U.S. (around a $25 billion market), controlling around 47% of the domestic chocolate space (per IRI). Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the U.S., including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix and Pirate Brands (including the Pirate's Booty, Smart Puffs, and Original Tings brands) over the past few years.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.