The Rising Influence of Rising Affluence

[biotech_researcher]

Over the years, I assumed the supply of cocoa was extremely limited/restricted. I got that wrong:

"Dipping cocoa prices could be a big boon for Hershey Co. (HSY), so much so that on Thursday Bernstein analysts upgraded Hershey stock to outperform from market perform and raised their price target to $127 from $109, noting that the price of cocoa has fallen by about 37% over the past year and may decline more. A 30% fall in input prices could increase gross margin expansion to 47.8% from 46.2% in one year, lifting earnings per share by 8.6%. Hershey’s was founded by Milton S. Hershey in 1894 as the Hershey Chocolate Company. In 1907"