Nestlé: Jefferies raises target price
(CercleFinance.com) - Jefferies has reiterated its "buy" rating on the Nestlé share, while raising its corresponding target price from 115 Swiss francs to 121 Swiss francs, after the Swiss agri-food giant's Q2 results beat estimates in terms of volumes, margins and results.
"Arguably cautious H2 guidance leads to no change in our underlying numbers, but lower tax drives a 4%-5% upgrade (in our EPS estimates)," the broker said.
"Further room to surprise on top line and portfolio, plus a usefully flexible margin target, keeps us buyers amidst a supportive (for the sector) market and macro environment," the broker continued.
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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.
"Arguably cautious H2 guidance leads to no change in our underlying numbers, but lower tax drives a 4%-5% upgrade (in our EPS estimates)," the broker said.
"Further room to surprise on top line and portfolio, plus a usefully flexible margin target, keeps us buyers amidst a supportive (for the sector) market and macro environment," the broker continued.
Copyright (c) 2019 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.