They Just Don't Get Hershey!
Marek Fuchs gives the business media a reaming for showcasing a reason why Hershey and Cadbury could merge while ignoring a reason they might not.

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P/E of 24, a PEG of 2.61, and a yield of 2.5%.

P/E of 23.27, a PEG of 3.05, and a yield of 2.6%.

P/E is 22.7 and the PEG is 2.26. The yield is 2.3%.

Downgraded by Citigroup from Buy to Hold

From Barron's 6-18-07:

"The food sector is fertile for deals. At Cadbury Schweppes [CSG], something already is happening. Cadbury has two businesses -- confectionery and beverages. They are selling off the beverage business and will do a major capitalization shrink with the proceeds. The confectionery business fits like a glove with Hershey [HSY] and Kraft Foods [KFT], both of which would be good strategic partners. Cadbury sells for 687 pence in London and the American depositary receipts are 55. We're buying it in London. After the cap shrink and an earnings increase, the stock could be worth 840p."

consumer stable

like Schweppes products

Upgraded by Bernstein from Mkt Perform to Outperform

Upgraded by JP Morgan from Underweight to Neutral