Hershey: In-Line Quarter Leaves A Neutral Story Ahead Of 2020

About: The Hershey Company (HSY)
by: Alexander Veytsman
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Alexander Veytsman
Long/short equity, hedge fund manager

We see HSY shares are fairly valued, as we are cautiously optimistic on 2020, although not seeing major tailwinds at present.

With pricing impact lessening in 2020, the story increasingly turns to volumes.

No incremental tailwinds from existing partnerships.

Company Description:

Hershey is a maker of confectionery products that include chocolates, gum, candies, beverages, toppings, and even baking ingredients. Founded in 1894 by Milton Hershey in the United States, today it has one of