What To Know About RBC Capital's Downgrade of Hershey
Portfolio Pulse from Benzinga Insights
RBC Capital downgraded Hershey (NYSE:HSY) from its previous rating to Sector Perform, reducing the price target from $239.00 to $213.00. Hershey's shares are currently trading down at $190.77, which is 1.19% lower than the last 24 hours. The new price target suggests a potential upside of 11.65% from the current price. Hershey is a major player in the U.S. confectionery market, with a portfolio of over 100 brands and a dominant share in the domestic chocolate market.

November 21, 2023 | 5:00 pm
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RBC Capital downgraded Hershey's rating to Sector Perform and lowered the price target from $239 to $213. The stock is currently trading at $190.77, down 1.19% from the last 24 hours.
The downgrade by RBC Capital is a direct negative sentiment towards Hershey's stock, which is likely to influence investors' perception and could lead to a short-term decrease in stock price. The reduction in price target, despite being above the current trading price, reflects a more conservative outlook on the company's future performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100