Piper Sandler Reiterates Neutral Rating on Hershey (HSY)

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Go back to Piper Sandler Reiterates Neutral Rating on Hershey (HSY)

JPMorgan Comments on Betaville Unfounded Rumor about Hershey (HSY) Takeover, 'it’s arguably difficult for HSY to be bought'

December 4, 2024 3:50 PM EST

JPMorgan analyst Ken Goldman reiterated a Neutral rating and $171.00 price target on Hershey (NYSE: HSY).

The analyst comments "The HSY shares spiked higher intraday on takeover speculation. We wont opine on whether this speculation is valid or not, but we remind investors that, historically, suitors for HSY (Wrigley, Mondelez, and likely others) have been rebutted. In this note, we detail the history and background of prior takeover attempts of HSY and why they failed. We also describe reasons why its arguably difficult for HSY to be bought. "The Hershey Company (HSY) has a... More