Jefferies upgraded Nestle (NSRGY) to Hold from Underperform with a CHF 77 price target Following last week’s first-half results, the stock has derated to below 16-times next-12-months’ earnings and has also approached a near-decade low, the analyst tells investors in a research note. Plans on brand equity rebuild still feel compromised and the dividend commitment remains “restrictive”, the firm added.
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Read More on NSRGY:
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