From Financial Modeling Prep: 2024-09-26 08:27:00

Hershey (NYSE:HSY) shares dropped 2% pre-market as Jefferies downgraded the company to Underperform, setting a price target of $163, down from $184. The company is projecting mid-single-digit price increases in its North American confectionery segment for 2025, widening the price gap with other snack categories as consumers seek more affordable options. Holiday-related sales are a focus, but consumer participation has decreased post-pandemic, impacting everyday chocolate purchases, particularly among low-income consumers. Analysts see limited upside potential for Hershey, with potential downward earnings revisions.



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