Goldman Sachs Raises HSY PT To $51

Goldman Sachs has issued a report raising the Price Target on Hershey HSY from $47 to $51 following a price increase announced by Hershey. Goldman Sachs writes, "We view the price move as a net positive for HSY given the likely EPS boost and indication of a rational pricing environment. We find distinction in the fact that Hershey followed, rather than led, this increase. It could imply that HSY may not need a full 10% increase this soon." HSY has a Sell Rating and closed at $54.35 yesterday.