by Sam Collins | January 3, 2012 5:18 am
Hershey Company (NYSE:HSY) — InvestorPlace contributor, Jon Markman of Trader’s Advantage, recently wrote, “Hershey is the largest candy maker in North America, controlling 43% of all chocolate sales. It also makes cookies, snack bars, baking ingredients and beverages. Its product portfolio consists of over 80 brands, including Hershey’s, Reese’s, Kit Kat and Bubble Yum. Headquartered inPennsylvania, it’s a $13 billion international powerhouse whose products are sold in 60 countries. It generates over $5 billion in annual revenues and employs 14,000 people.”
Credit Suisse analysts have a target price of $68 based on the stock’s long-term record of increasing earnings by 6% to 8% annually and its dividend yield of 2.23%. The acquisition of Canadian private food company, Brookside Foods Ltd., is expected to benefit from the company’s patents.
The recent breakout from an eight-month trading rectangle gives a trading target of $68.
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