Nestlé: Credit Suisse still on hold
(CercleFinance.com) - Credit Suisse maintains its Neutral rating on Nestlé shares, along with its target price of 126 Swiss francs.
"We look for +8.9% organic sales growth in Q322, ahead of VA consensus of +8.1%", the analyst says, for whom Nestlé's turnaround has been impressive.
Nestle's turnaround has been impressive and
"We believe the company is now in a position to consistently deliver mid-single-digit growth," Credit Suisse adds, while saying, "We believe the shares are fairly valued at current levels and we see better opportunities elsewhere in the sector."
It summarises, "Our target price reflects a target FY23 P/E multiple of c.24x, plus the value of L'Oreal stake".
Copyright (c) 2022 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.
"We look for +8.9% organic sales growth in Q322, ahead of VA consensus of +8.1%", the analyst says, for whom Nestlé's turnaround has been impressive.
Nestle's turnaround has been impressive and
"We believe the company is now in a position to consistently deliver mid-single-digit growth," Credit Suisse adds, while saying, "We believe the shares are fairly valued at current levels and we see better opportunities elsewhere in the sector."
It summarises, "Our target price reflects a target FY23 P/E multiple of c.24x, plus the value of L'Oreal stake".
Copyright (c) 2022 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.