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Nestlé: Liberum remains a seller, but raises target.

(CercleFinance.com) - Liberum has confirmed its "sell" rating on the Nestlé stock, although has raised its target price from 65 Swiss francs to 70 Swiss francs, due to a slight increase in cost savings and accelerated restructuring.

“While there is no denying Nestlé's strong brands and category market positions, investors' expectations for quick results appear more than fully priced in,” the broker stated.

Liberum expects a lower sales growth trajectory for the Swiss agri-food group, and considers that its targets in terms of margin do not appear to be "overly conservative".

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