Deutsche Bank Lifts Hershey (HSY) Target but Stays on the Sidelines Ahead of Q4

The Hershey Company (NYSE:HSY) is included among the 15 Best Wide Moat Dividend Stocks to Invest in.

On January 29, Deutsche Bank raised its price recommendation on The Hershey Company (NYSE:HSY) to $188 from $180. However, it reiterated a Hold rating on the stock ahead of the Q4 earnings report.

Earlier in the month, on January 15, the Wall Street Journal reported that the company had boosted its marketing budget for its Hershey’s brand by 20%. The increase supports the brand’s first new advertising campaign in eight years. Hershey spent about $600 million on advertising in 2024.

The campaign will run across traditional television and streaming platforms. It will also expand into areas where the brand has had less exposure. That includes influencer marketing on TikTok, live events, and promotions tied to major cultural moments, such as this year’s Winter Olympics and the America250 celebrations. The rollout is scheduled to begin next week.

Hershey said stronger performance at Hershey’s would benefit the broader company. Management views the brand as a core driver, and higher sales there tend to lift overall results. It’s the kind of focus large consumer companies often return to when growth slows, leaning on their most recognizable names.

The Hershey Company (NYSE:HSY) operates as a global snacks company with three main segments: North America Confectionery, North America Salty Snacks, and International.

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