Hershey Stock Moves Higher After Landing Citigroup Praise

HSY has reclaimed its year-to-date breakeven level this month

Digital Content Manager
Oct 19, 2020 at 9:49 AM
facebook twitter linkedin

The shares of Hershey Co (NYSE:CHWY) are up 0.6% at $150.60 this morning, after Citigroup initiated coverage with a "buy" rating and a $172 price target. The analyst in coverage said that while the chocolate manufacturer's sales have been pressured by the coronavirus pandemic, the equity still has significant potential for growth in the future. 

This is set to be HSY's eighth win in 10 days, a hot streak that has helped the stock reclaim its year-to-date breakeven level. In the last three months, the shares have gained 10.6%, with support emerging from its ascending 10-day moving average.

Analysts were hesitant toward the security coming into today, with nine of the 12 in question carrying a tepid "hold" rating, and the remaining three sporting a "strong buy." Meanwhile, the 12-month consensus target price of $150.69 is right in line with current levels. This means there's potential for even more bull notes for HSY in the coming months.

Traders looking to speculate on Hershey stock's next move should consider options. The equity's Schaeffer's Volatility Index (SVI) of 28% sits in the 17th percentile of its annual range, suggesting short-term options are pricing in relatively low volatility expectations. In other words, the stock's near-term options are attractively priced at the moment.




Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners