Why Hershey Stock Soared Today
In 2016, Mondelez International failed in its attempt to buy Hershey (NYSE: HSY). Now more than eight years later, Mondelez is reportedly trying again.
According to Bloomberg, Mondelez just approached Hershey in hopes of acquiring it. And that's why Hershey stock was up 12% as of 1:30 p.m. ET.
Back in 2016, Mondelez tried to buy Hershey for $23 billion. Hershey rejected the offer and it's arguably been a good decision. Since the offer was rejected, Hershey stock is up more than Mondelez stock after factoring in dividends.
Source Fool.com
Hershey Co. Stock
€155.45
-0.350%
With 14 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 181 € there is a slightly positive potential of 16.44% for Hershey Co. compared to the current price of 155.45 €.
