Hershey price target raised to $89 from $83 at Citigroup Citigroup expects Hershey to report strong Q4 results on January 31 and sees significant upside potential to 2013 consensus estimates. The firm raised its 2013 earnings estimate by 4c to $3.60 and upped its price target for shares to $89. Citi reiterates a Buy rating on the stock.
Citi says Hershey, TreeHouse, Mead still top picks in Food After meeting with ten U.S. Food Manufacturers, Citigroup says Hershey (HSY), TreeHouse (THS) and Mead Johnson (MJN) remain its top picks in the space. Citi favors domestic companies, but says the consumer environment for food remains difficult with volume growth "hard to come by" in the U.S. The firm believes the expected uptick in U.S. food growth is failing to materialize.