Nestlé: Oddo confirms buy rating
(CercleFinance.com) - Oddo confirms its buy rating on the share of Swiss agri-food giant Nestlé, with a target price of 118 Swiss francs after the group published its Q3 results.
The analyst says that the third quarter was very strong, with organic growth of 4.9% well above even the highest expectations (and over double Oddo BHF's 2.4% growth forecast).
With growth drivers across the board and Waters resisting well (-3.1% in Q3 vs. -10.4% in H1), Oddo also underlines that the management expects organic growth to be around 3%, with an increase in the group's OM at constant exchange rates over 2020.
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