Nestlé: Barclays remains positive after change of CEO
(CercleFinance.com) - Barclays confirms its 'overweight' recommendation on Nestlé shares, with a target price of 110 CHF, the day after the announcement of Mark Schneider's departure, which it says that while it is sudden, it is not too surprising given recent events.
Commenting on this 'tectonic change' at the head of the Swiss food group, the broker points out that Mark Schneider's successor, Laurent Friexe, is a 38-year Nestlé veteran who knows the business well.
We think this is a step in the right direction and that Nestlé still has an enviable portfolio, but it will raise questions about the finances and the right long-term algo, Barclays adds.
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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 information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Commenting on this 'tectonic change' at the head of the Swiss food group, the broker points out that Mark Schneider's successor, Laurent Friexe, is a 38-year Nestlé veteran who knows the business well.
We think this is a step in the right direction and that Nestlé still has an enviable portfolio, but it will raise questions about the finances and the right long-term algo, Barclays adds.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.