Bank of America lowers target price for Hershey Company
What happened
Bank of America reduced its target price for Hershey Company from $220.00 to $200.00 and assigned a neutral rating in a report released on June 25th. This move comes as other firms have also adjusted their outlooks; Wells Fargo & Company lowered its target price from $200.00 to $190.00, and Barclays decreased its objective from $208.00 to $200.00.
From tickerreport.com
Why it matters
The reduction in target prices and the neutral rating from Bank of America contribute to a broader trend among analysts covering Hershey Company. Currently, twenty-two analysts covering the firm give it an average recommendation of “Hold”.
From tickerreport.com
Who's involved
- Bank of AmericaAmerican multinational banking and financial services corporation that issued the price reduction
- HersheyThe parent company responsible for the production and market presence of the Twizzlers brand
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- HersheySpeculative
Hershey Company might see its market valuation negatively affected by the analyst rating downgrade and target price reduction.
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The entities involved
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Bank of America
American multinational banking and financial services corporation
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Twizzlers
brand of candy produced by Hershey
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