Evercore Sets $255 Hershey Target; FedEx Freight Trading Monday
FDX•Evercore raised Hershey’s rating to outperform with a $255 price target, forecasting up to 30% upside as summer events like the FIFA World Cup and America’s 250th Anniversary drive candy sales. FedEx’s newly spun-off Freight unit will begin trading Monday as an independent public company.
1. Evercore Upgrades Hershey to Outperform
Evercore ISI’s David Palmer raised Hershey’s rating to outperform from in-line and set a $255 price target, implying roughly 30% upside over the next 12 months. He cited summer tentpole events including the FIFA World Cup and America’s 250th Anniversary, plus a strong Halloween season and a late-November Hershey movie release, as catalysts for ramped chocolate consumption.
2. FedEx Freight Begins Independent Trading
FedEx’s newly spun-off Freight unit starts trading as a standalone public company on Monday, marking the completion of the planned split of its less-than-truckload operations. The listing is intended to unlock value by allowing the freight business to be valued separately from FedEx’s core express and ground segments.
