UBS begins to be optimistic about the Hershey Company (NYSE:HSY) from its perspective, the setup for 2023 looks promising.
Analyst Cody Ross thinks the food company will maintain a cycle of ups and downs until 2025 with Hershey’s organic sales momentum among the strongest in its field. UBS forecasts Hershey (HSY) will see 9% organic sales growth in 2023.
“Ours [near-term] confidence is underpinned by pricing benefits surrounding 2023 along with capacity additions, while we [long-term] confidence is fueled by a friendlier operating environment in Confectionery and a long-term growth path for the large-scale Snacks business,” Ross updated.
Hershey Upgrade UBS (HSY) to a Buy rating from Neutral and assigns a higher price target of $269.
The author of Searching for Alpha, Francois Soto also has a Buy reviews on Hershey.
Hershey’s stock (HSY) has moved 1.40% higher in premarket trading on Thursday.