Hershey pullback a buying opportunity, says Citigroup Citigroup believes the post-Q1 earnings sell-off in shares of Hershey creates a buying opportunity. Citi thinks the Q1 results are not an indication of weakening business fundamentals and it keeps a Buy rating on the stock with a $112 price target.
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.