Nestlé: Oddo BHF still a buyer ahead of Q3 sales
(CercleFinance.com) - Oddo BHF reiterates its "buy" rating and target price of 110 Swiss francs for the Nestlé share, ahead of the agrifood giant's announcement of its Q3 sales, on 17 October, which broker expects will be up 3.
9% (+3.7% on a comparable basis).
The third quarter should show that there is an ongoing revival of the group's portfolio (innovation and revaluation), with a volume/mix effect that should be at its highest level since Q2 2014, the analyst says.
In its forecasts Oddo BHF includes the release of Nestlé Skin Health from the final quarter of 2019 and a further decline in its tax rate, with the one almost offsetting the other in 2020, although not in 2019, which explains why it has raised its forecasts.
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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.
9% (+3.7% on a comparable basis).
The third quarter should show that there is an ongoing revival of the group's portfolio (innovation and revaluation), with a volume/mix effect that should be at its highest level since Q2 2014, the analyst says.
In its forecasts Oddo BHF includes the release of Nestlé Skin Health from the final quarter of 2019 and a further decline in its tax rate, with the one almost offsetting the other in 2020, although not in 2019, which explains why it has raised its forecasts.
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.