Nestlé: Jefferies upgrades stock
(CercleFinance.com) - Jefferies has upgraded its Nestlé shares from "underperform" to "hold", with an increased target price of 115 Swiss francs (vs.
Swiss francs previously), pending the Swiss food group's upcoming quarterly publication on 16 February.
The broker summarises that it has changed its stance, "reflecting what has been a material share price correction during 2022 and an anticipated more supportive yield environment going forward".
"We prove to be very consensual on both Q4 & FY23 and note that the mid-point of new MT guidance would imply modest consensus upgrades," it adds.
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