Deutsche Bank Maintains Hold Rating On HSY

Deutsche Bank has issued a report reiterating the Hold Rating on The Hershey Company HSY. According to the report, “We can't ignore the LT power of wholesale pricing on profits, especially assuming sugar and cocoa farmers plant more over time in reaction to high prices. But we retain our HOLD opinion as concern over 2012 elasticity and a 30% premium P/E valuation vs. peers more than offsets solid fundamentals.” HSY has a $49 Price Target and closed on Friday at $55.63 a share.