Nestlé: Oddo confirms buy rating
(CercleFinance.com) - Oddo confirms its buy rating on the share of Swiss agri-food giant Nestlé, with a target price of 118 Swiss francs after the group published its Q3 results.
The analyst says that the third quarter was very strong, with organic growth of 4.9% well above even the highest expectations (and over double Oddo BHF's 2.4% growth forecast).
With growth drivers across the board and Waters resisting well (-3.1% in Q3 vs. -10.4% in H1), Oddo also underlines that the management expects organic growth to be around 3%, with an increase in the group's OM at constant exchange rates over 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.
The analyst says that the third quarter was very strong, with organic growth of 4.9% well above even the highest expectations (and over double Oddo BHF's 2.4% growth forecast).
With growth drivers across the board and Waters resisting well (-3.1% in Q3 vs. -10.4% in H1), Oddo also underlines that the management expects organic growth to be around 3%, with an increase in the group's OM at constant exchange rates over 2020.
Copyright (c) 2020 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.