Hershey increases FY13 EPS view to $3.56-$3.63 , consensus $3.59 Outlook for 2013 net sales reaffirmed. Full-year net sales expected to increase 5-7%, driven primarily by volume, consensus $6.99B. Adjusted earnings per share-diluted expected to increase 10-12% and be in the $3.56-$3.63 range, greater than the previous estimate of an 8-10% increase.
Hershey estimates and price target raised at JPMorgan JPMorgan raised its 2015 and 2016 earnings estimates for Hershey citing greater confidence in the company's revenues and gross margins after meeting with management. The firm upped its price target for shares to $105 from $101 and keeps an Overweight rating on the stock.