Nestlé: Morgan Stanley raises target price
(CercleFinance.com) - Morgan Stanley has raised its target price for Swiss food giant Nestlé from 105 Swiss francs to 120 Swiss francs, keeping an "overweight" rating on the share.
In a note to clients, the broker points out that the largest name in staples has been the best performer over the past three years, despite delivering bottom tier topline growth.
However, as Nestlé is embarking on the toughest leg of its transformation journey (accelerating like-for-like growth), it could be time to jump on board, Morgan Stanley says.
The Nestlé share is currently down 0.5% at 112.7 Swiss francs in Zurich.
Copyright (c) 2019 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.
In a note to clients, the broker points out that the largest name in staples has been the best performer over the past three years, despite delivering bottom tier topline growth.
However, as Nestlé is embarking on the toughest leg of its transformation journey (accelerating like-for-like growth), it could be time to jump on board, Morgan Stanley says.
The Nestlé share is currently down 0.5% at 112.7 Swiss francs in Zurich.
Copyright (c) 2019 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.