Bond.az - Evercore ISI upgraded Hershey (NYSE:HSY) to Outperform from In Line on Tuesday, setting a price target of $255, representing potential upside of over 33% from the current price of $191.12.
The firm cited a positive outlook for the second half of 2026. Recent retailer discussions indicate an optimistic trend for the confection category.
Evercore ISI pointed to Hershey’s initiatives for upcoming seasons, including Halloween, as a factor. The analyst firm views the current valuation as attractive, though the stock trades at a P/E ratio of 35.46.
The stock has pulled back nearly 20% from recent levels, trading about 20% below its 52-week high of $239.48. Evercore ISI considers this decline a compelling entry point at the $255 price target.
