The Hershey Company announced that it will report its fourth-quarter sales and earnings on Thursday, February 5, 2026, and host a conference call with analysts at 8:30 a.m. ET via a live webcast on its corporate investors site. Management plans to discuss key drivers from the holiday season, implications of cocoa cost trends and tariff removals, and guidance for fiscal 2026. Investors can access the webcast through the “Calendar of Events” section to gain insights into margin expectations and capital allocation priorities.

Piper Sandler upgraded Hershey to Overweight from Neutral and raised its 12-month price target from $193 to $213, citing the end of inflationary cocoa cost pressures and removal of cocoa tariffs. The firm highlighted that early benefits from lower raw-material costs have been redirected toward growth initiatives—better-for-you offerings, salty snacks, international expansion, sweets and premium products—while tariff relief is now expected to flow through directly to the bottom line. Shares reacted positively, rising more than 1% in pre-market trading on the day of the announcement.

Despite anticipating upside to consensus, Piper Sandler maintained conservative earnings per share estimates of $7.23 for fiscal 2026 and $7.73 for fiscal 2027. The firm also forecast increased cash generation and boosted its target multiple to 27.5 times 2027 EPS (up from 25.0 times), underpinning its higher valuation. These projections follow Hershey’s trend of outpacing Street estimates in recent quarters, where the company averaged an earnings surprise of roughly 19.5%, reinforcing confidence in its ability to deliver sustained growth.