We now view shares as a bit undervalued and see this as a good time to gain exposure to the sector.
Even amid sluggish growth, pockets of value remain for long-term investors.
This deal affords wide-moat Hershey another avenue by which to elevate its sales trajectory.
But while we foresee some sales improvement, increasing already-high margins is not likely.
The recent sell-off is overdone, and this wide-moat stock is modestly undervalued today.
We think the wide-moat company is still a bit undervalued.
We're maintaining our $96 fair value estimate and think investors should keep this wide-moat name on their radar.
The addition of activist investor Nelson Peltz to the wide-moat company's board would do little to accelerate the pace of change that is already under way.
The wide-moat firm again bucked the trend, chalking up solid results last quarter.