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Hershey Stock Has 1 Less Bear on the Street as Candy Prices Rise | Barron’s

Buy Hershey candy, but not the stock.

That is the overwhelming consensus of Wall Street. Less than 20% of analysts covering the iconic candy company rate the shares a Buy, far lower than the 55% average for stocks in the Dow Jones Industrial Average.

Still, Hershey (ticker: HSY) stock rose about 3% on Wednesday after Goldman Sachs analyst Jason English upgraded the stock to Hold from Sell, in part because candy prices will rise this Halloween. He has a $142 price target on shares that were trading at $144.94 Wednesday afternoon.

“We have confirmed with industry sources and [Hershey] management that Mars has announced a 9% to 9.5% price increase on single-serve chocolate,” English wrote in a Wednesday research report. He said Mars is also following Hershey’s plan to raise seasonal chocolate prices for the coming Halloween season.

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Hershey Stock Has 1 Less Bear on the Street as Candy Prices Rise – Barron’s.

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