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Mondelez International’s latest overture to Hershey underscores the challenges posed by high cocoa prices and penny-pinching consumers, which could make the company more open to a deal.
Mizuho lowered the firm’s price target on Hershey (HSY) to $180 from $200 and keeps a Neutral rating on the shares. Following a “generally ...
Low-priced competition is scant in the US confectionery space, as private-label fare holds just a low-single-digit share of the chocolate aisle on its home turf, versus around 36% for Hershey.