Hershey Gets Double Upgrade From Goldman Sachs on Market Share Gains

Hershey (HSY, Financials) got a rare double upgrade from Goldman Sachs on Tuesday, with analysts saying the company is beginning to claw back market share after a tough stretch.

Goldman's team said that Hershey is getting back on track in the chocolate sector and staying steady in the snack market, which had been hurt by inflation and more competition. The company claimed that the forecast for profitability looks brighter going into next year now that cocoa prices are started to go down.

Over the last year, the firm has had a hard time because of increasing prices and lower customer spending. The current upgrade shows that those challenges may be diminishing and that Hershey's brands are in a good position to gain if demand keeps going up.

Investors will be keeping a careful eye on the next earnings report to see whether this recovery is real.