Nestlé: Bryan Garnier no longer a buyer.
(CercleFinance.com) - Bryan Garnier has downgraded its "buy" rating on Nestlé to "neutral," while maintaining its fair value for the stock at 83 Swiss francs, in in a report on major European food groups.
“Even though we praised the group's quality of execution and its resilient profile”, the broker says, “we deeply regret the lack of visibility on outlook... all the more because both organic sales growth and the EBIT margin should not show any improvement in 2017.”
After the share price's recent rise, Nestlé is trading at an historical high of 83.4 Swiss francs, and Bryan Garnier therefore cannot detect any further upside potential compared to its intrinsic value.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
“Even though we praised the group's quality of execution and its resilient profile”, the broker says, “we deeply regret the lack of visibility on outlook... all the more because both organic sales growth and the EBIT margin should not show any improvement in 2017.”
After the share price's recent rise, Nestlé is trading at an historical high of 83.4 Swiss francs, and Bryan Garnier therefore cannot detect any further upside potential compared to its intrinsic value.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.