Deutsche Bank Lifts Hershey (HSY) Target but Stays on the Sidelines Ahead of Q4

Core Viewpoint - The Hershey Company (NYSE:HSY) is recognized as one of the 15 Best Wide Moat Dividend Stocks to invest in, indicating strong competitive advantages and reliable dividend performance [1]. Group 1: Price Target and Ratings - Deutsche Bank has raised its price target for Hershey to $188 from $180 but maintains a Hold rating ahead of the Q4 earnings report [2]. Group 2: Marketing Strategy - Hershey has increased its marketing budget for the Hershey's brand by 20%, amounting to approximately $600 million for 2024, supporting its first new advertising campaign in eight years [2]. - The new campaign will utilize traditional television and streaming platforms, as well as expand into influencer marketing on TikTok, live events, and promotions linked to significant cultural events like the Winter Olympics and America250 celebrations [3]. Group 3: Business Performance - Stronger performance from the Hershey's brand is expected to positively impact the overall company results, as management considers it a core driver of growth [4]. - The Hershey Company operates as a global snacks company with three main segments: North America Confectionery, North America Salty Snacks, and International [4].