Nestlé: Barclays still a buyer, but cuts TP
(CercleFinance.com) - Barclays confirms its "overweight" rating on Nestlé shares, while reducing its target price for them from 135 CHF to 125 CHF, based on the Swiss food group's quarterly trading update.
"Despite a solid Q3 OSG, management struck a more cautious tone leaving questions around RIG outlook", the broker acknowledged.
However, still pointing to the ongoing dynamic nature of coffee and pet food, Barclays still believes that Nestlé's organic growth and margins next year will compare well with those of its peers.
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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.
"Despite a solid Q3 OSG, management struck a more cautious tone leaving questions around RIG outlook", the broker acknowledged.
However, still pointing to the ongoing dynamic nature of coffee and pet food, Barclays still believes that Nestlé's organic growth and margins next year will compare well with those of its peers.
Copyright (c) 2023 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.