Nestlé: Jefferies sticks to its guns in rating and target
(CercleFinance.com) - Nestlé has announced a refocusing of its Waters division on international brands, with a potential exit from local water brands in North America.
Following this announcement, Jefferies confirms its neutral rating on the share with a target price of 94 Swiss francs.
"We applaud the attempt to solve a strategic problem and the signal of continued decisiveness on the portfolio. But this is a potential disposal that is going to challenge NESN's deal team," the broker says.
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