J.P. Morgan has reported that Hershey HSY will increase prices by 10% immediately.
According to the report, "Overweight-rated Hershey last night announced significant price increases and reiterated its 2011 outlook. Effective immediately, the company will increase list prices by ~10%. Given the elasticity effect, we expect volume levels to decline over the next 9-12 months."
HSY has an Overweight Rating and closed yesterday at $54.69.
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