Susquehanna Sees Low Odds For Significant Strategy Change At Hershey

12/7/17

Susquehanna analyst Pablo Zuanic updates on Hershey (HSY +0.1%) as he takes into the account the significant turnaround in the board's composition.

"We think the probability that the Trust Board (the Hershey Trust through its entities controls more than 80% of the votes at the HSY company) will entertain significant strategic changes at HSY (an outright sale or merger with a large conglomerate) before 2020, is less than 10%," writes Zuanic.

Despite some clearing visibility on the M&A front, the analysts sticks with a cautious Neutral stance and price target of $113.

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