February 3, 2023

Wall Street Analysts Are Bullish on Top Consumer Goods Picks

There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on The Hershey Company (HSY – Research Report) and Ferrari (RACE – Research Report) with bullish sentiments.

The Hershey Company (HSY)

In a report released yesterday, Bryan Spillane from Bank of America Securities maintained a Buy rating on The Hershey Company, with a price target of $270.00. The company’s shares closed last Thursday at $234.42, close to its 52-week high of $242.64.

According to TipRanks.com, Spillane is a 3-star analyst with an average return of 3.2% and a 57.9% success rate. Spillane covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Mondelez International, and Constellation Brands.

Currently, the analyst consensus on The Hershey Company is a Hold with an average price target of $243.00, a 7.3% upside from current levels. In a report released yesterday, Goldman Sachs also reiterated a Buy rating on the stock with a $277.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Ferrari (RACE)

Bank of America Securities analyst John Murphy maintained a Buy rating on Ferrari yesterday and set a price target of $300.00. The company’s shares closed last Thursday at $265.48.

According to TipRanks.com, Murphy is a 5-star analyst with an average return of 9.0% and a 55.6% success rate. Murphy covers the Consumer Goods sector, focusing on stocks such as Penske Automotive Group, Group 1 Automotive, and General Motors.

Currently, the analyst consensus on Ferrari is a Moderate Buy with an average price target of $263.65, representing a -0.6% downside. In a report issued on January 20, RBC Capital also maintained a Buy rating on the stock with a EUR265.00 price target.

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Read More on HSY:

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