Nestlé: Credit Suisse on hold, pending results

(CercleFinance.com) - Credit Suisse is maintaining its "neutral" rating on Nestlé shares, with a target price of 120 Swiss francs, in its comments setting out its expectations for the Swiss food giant's next financial publication, due in February.


The broker expects organic sales growth of +10% in Q4 2022, which exceeds the consensus and includes +0.3% real organic growth and, in particular a +9.7% price effect.

Regarding profitability, Credit Suisse expects an underlying operating margin of 17% for FY 2022, again (slightly) above the consensus, with underlying EPS of 4.85 Swiss francs.


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