Morgan Stanley analyst Sarah Simon upgraded Nestle (NSRGY) to Equal Weight from Underweight with a price target of $85, down from $92. The firm says that following the stock’s material underperformance, its investment thesis on Nestle has played out. While Morgan Stanley still sees risk to estimates for 2025 and 2026, this is now recognized by the market, with the stock’s valuation now reflecting the more cautious mid-term outlook, the analyst tells investors in a research note.
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Read More on NSRGY:
- Nestle chairman says company will have to take action on prices, Reuters says
- Nestle price target lowered to CHF 93 from CHF 97 at Berenberg
- Nestle price target lowered to CHF 87 from CHF 90 at Deutsche Bank
- Nestle price target lowered to CHF 80 from CHF 84 at Morgan Stanley
- Nestle upgraded to Outperform from Sector Perform at RBC Capital
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