Nestlé: stock afloat thanks to broker upgrade

(CercleFinance.com) - The Nestlé share (+1.
3%) is the only riser in Zurich's SMI index on Friday, boosted by HSBC analysts upgrading the stock.

In its morning comments, the British broker welcomed the emergence of new sources of income at the Swiss agri-food giant, therefore adopting a buy rating on the share.

In particular, HSBC welcomes last summer's acquisition of US food allergy oral therapy specialist Aimmune Therapeutics.

According to the broker, the transaction should enable Nestlé Health Science, the nutrition division of the Vevey-based group, to expand rapidly.

The broker says that it has raised its target price for the Nestlé share from 102 Swiss francs to 123 Swiss francs.


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