Nestlé: Barclays starts coverage as a buyer
(CercleFinance.com) - Barclays has started coverage of Swiss food giant Nestlé with a positive rating, as part of a research report on European food producers.
The broker has an "overweight" rating on the stock, with a target price of 106 Swiss francs.
"Despite recent outperformance from Nestlé post CEO Schneider's arrival, we still see plenty more runway to unlock value, including potentially monetising its L'Oréal stake and setting new targets beyond 2020," Barclays wrote in the note.
Nestlé shares are currently up 0.6% at 96.7 Swiss francs.
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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 broker has an "overweight" rating on the stock, with a target price of 106 Swiss francs.
"Despite recent outperformance from Nestlé post CEO Schneider's arrival, we still see plenty more runway to unlock value, including potentially monetising its L'Oréal stake and setting new targets beyond 2020," Barclays wrote in the note.
Nestlé shares are currently up 0.6% at 96.7 Swiss francs.
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.