TD Cowen analyst Robert Moskow maintains $Hershey (HSY.US)$ with a hold rating, and adjusts the target price from $190 to $172.
According to TipRanks data, the analyst has a success rate of 48.0% and a total average return of 4.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Hershey (HSY.US)$'s main analysts recently are as follows:
Estimates for Hershey and Mondelez have been lowered primarily due to the increasing prices of cocoa. The futures curve for cocoa has seen a significant uptick in recent months. It is anticipated that cocoa hedges, which typically extend nine months or more, might impact earnings more heavily in the second half of 2025 compared to the first half.
The outlook for 2025 appears challenging for the food and beverage industry due to several factors. First, a significant change in the regulatory environment is unlikely. Additionally, the usage of GLP-1 is increasing slowly, and it has a high rate of dropouts. Moreover, value-seeking behavior tends to normalize as consumers adjust to elevated prices and experience the effects of wage inflation. To enhance their value perception among consumers, many brands within the industry may need to reconsider and adjust their pricing and margin structures.
Historic levels of underperformance have set 'a low bar' for the U.S. Food group, but heading into 2025, signs of stabilizing volume and improved earnings delivery will be critical areas to watch.
Note:
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TD Cowen分析師Robert Moskow維持$好時 (HSY.US)$持有評級，並將目標價從190美元下調至172美元。
根據TipRanks數據顯示，該分析師近一年總勝率為48.0%，總平均回報率為4.0%。
此外，綜合報道，$好時 (HSY.US)$近期主要分析師觀點如下：
由於可可價格的上漲，關於好時和億滋的估計已被下調。最近幾個月，可可的期貨曲線出現了顯著的上漲。預計通常延續九個月或更長時間的可可對沖將在2025年下半年對收益的影響可能會比上半年更大。
由於多個因素，2025年的食品和飲料行業前景似乎充滿挑戰。首先，監管環境的重大變化不太可能發生。此外，GLP-1的使用緩慢增長，並且其退訂率很高。再者，隨着消費者適應高價格並感受到工資通貨膨脹的影響，尋求價值的行爲往往會正常化。爲了增強他們在消費者心中的價值感，行業內的許多品牌可能需要重新考慮和調整其定價和利潤結構。
歷史水平的表現不佳爲美國食品組設定了「低標準」，但進入2025年，穩定的成交量和改善的收益表現將是需要重點關注的關鍵領域。
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