Citi expects organic sales struggles for Hershey, trims stock price target to $181 By Investing.com
On Wednesday, Citi signaled caution regarding Hershey shares, adjusting the price target slightly down to $181 from the previous $182 while maintaining a Sell rating on the stock. The financial firm anticipates that Hershey’s upcoming third-quarter earnings report, expected in early November, may not meet the consensus estimates for organic sales growth and earnings per share (EPS).
According to Citi, the potential shortfall could be attributed to weaker than anticipated performance in Hershey’s North America Confectionary segment. This concern follows Hershey’s previous action last quarter, where it modestly reduced its full-year outlook for organic sales growth (OSG) and EPS. The firm suggests that Hershey’s annual guidance could be…
