Nestlé: Bryan Garnier adjusts target price.
(CercleFinance.com) - Bryan Garnier is maintaining its "neutral" rating on the Nestlé stock, nudging up with its fair value from 88 Swiss francs to 89 Swiss francs, in the wake of a 3% increase in its EBIT forecast by 2020.
"At its investors seminar, Nestlé confirmed its target for mid-single-digit organic sales growth by 2020 and set an objective for EBIT margin between 17.5% and 18.5% by that date," the broker underlines.
Bryan Garnier also notes that the Swiss agri-food group has indicated that its share buyback program of 20 billion Swiss francs, which was supposed to focus on 2019 and 2020, will now be spread evenly over 2017-2020.
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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.
"At its investors seminar, Nestlé confirmed its target for mid-single-digit organic sales growth by 2020 and set an objective for EBIT margin between 17.5% and 18.5% by that date," the broker underlines.
Bryan Garnier also notes that the Swiss agri-food group has indicated that its share buyback program of 20 billion Swiss francs, which was supposed to focus on 2019 and 2020, will now be spread evenly over 2017-2020.
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.