Hershey, HSY, Price Target Raised by UBS

Hershey Foods target raised to $54 at UBS (53.63 -0.10)

UBS raises their HSY tgt to $54 from $51 based on continuing strength in non-measured channels. Firm says C-store data for the 4 weeks ending 2/19 shows accelerating sales momentum (+11% YOY) driven by +10% volumes. This marks the third consecutive period that Hershey’s has outpaced category growth, and also represents the third period of sequential top line acceleration.

Next earnings release: Apr 21 before market, unconfirmed. Thomson Reuters estimate: 0.69