Nestlé: shares gain on broker upgrade
(CercleFinance.com) - Nestlé shares are up 1.
8% at 81.3 Swiss francs on Thursday morning, making it the sharpest riser amongst Swiss large caps, after UBS upgraded its recommendation on the stock from "neutral" to "buy".
The broker has also raised its target price for the Nestlé share from 84 Swiss francs to 90 Swiss francs.
It says that it has upgraded the stock on its improving execution and portfolio changes.
"Recent pullback creates a compelling entry point," UBS says in a note.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
8% at 81.3 Swiss francs on Thursday morning, making it the sharpest riser amongst Swiss large caps, after UBS upgraded its recommendation on the stock from "neutral" to "buy".
The broker has also raised its target price for the Nestlé share from 84 Swiss francs to 90 Swiss francs.
It says that it has upgraded the stock on its improving execution and portfolio changes.
"Recent pullback creates a compelling entry point," UBS says in a note.
Copyright (c) 2019 CercleFinance.com. All rights reserved.