Nestlé: Morgan Stanley says 'incrementally more attractive'

(CercleFinance.com) - Morgan Stanley on Friday reiterated its "overweight" rating on Nestlé, with a target price of 120 Swiss francs, the day after the Swiss food giant reported its full-year 2019 results.


In a note to clients, the broker said it sees the stock as "incrementally more attractive" than was the case last September, as consensus for 2020 now seems "better calibrated".

Morgan Stanley - which integrates the company's new targets - thinks that Nestlé offers one of the highest levels of visibility in the staples sector.

The share is currently the biggest winner on the SMI Swiss market index, up 1.5% at 106.3 Swiss francs.

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