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Nestlé: Oddo confirms its opinion after acquisition

(CercleFinance.com) - Nestlé announced yesterday that it would acquire the licence for Starbucks products.

This transaction only reinforces the 'Buy' rating on the share with a target price of CHF 85, considers Oddo.

“Nestlé is seeking to reinforce its position on coffee and a new brand is no doubt the best strategy” indicates the analyst firm.

“Our initial forecasts anticipate a light accretion in earnings per share of approximately +3%”.

According to Oddo, this acquisition is a timely response to the takeover of Dr Pepper by Keurig, the US coffee brand owned by JAB, the holding company of the Reimann family, founders of the Benckiser group.

The analyst firm believes that Nestlé's purchase of this licence gives the Group a weapon with which to counter Keurig's offensive in the mass distribution market.

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