Morgan Stanley Cuts Hershey (HSY) PT amid Higher Oil and Commodity Pressures

Morgan Stanley has lowered its price target for The Hershey Company (HSY) to $227 from $247, while reiterating an Overweight rating, due to a more challenging forward commodity outlook exacerbated by rising oil prices. Similarly, Barclays also reduced its price objective for HSY to $225 from $240, citing “growing caution” in the consumer staples group and concerns about dividend sustainability for some companies due to higher input costs. The Hershey Company, known for its confectionery and salty snacks, is facing pressures from increased commodity costs.

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