Hershey Foods HSY is set to announce 2Q earnings on Thursday, June 22nd.
JP Morgan raised EPS estimates to $0.50 from $0.46.
Analyst Terry Biven said, "Our most recent Walmart Watch piece (July 1) suggests that Hershey volumes were around 6% in outlets measured by A.C. Nielsen plus Walmart panel data. Additionally, we believe volumes in the high margin convenience store channel may have been 9% or above."
Hershey's commodities hedging has been effective. Sugar, cocoa, and milk are all up between 26% and 34%. As hedges roll off, Hershey could face input pressure in 2011, but for right now and the rest of 2010, JP Morgan predicts a favorable environment.
Hershey is rated Neutral with a price target of $50.55.
Shares of HSY are currently trading at $50.55.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsConsumer StaplesJP MorganPackaged Foods & MeatsTerry Bivens
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