RBC Capital analyst James Edwardes Jones upgraded Nestle (NSRGY) to Outperform from Sector Perform with an unchanged price target of CHF 93 following the Q3 report. The company showed a willingness to invest ahead of productivity gains and offered realistic guidance, the analyst tells investors in a research note. The firm feels “much more sanguine” about Nestle’s 3%-5% organic growth outlook.
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Read More on NSRGY:
- Nestle Head of SBUs Bernard Meunier to step down from Executive Board
- Nestle HR head Beatrice Guillaume-Grabisch to step down
- Nestle reports 9M revenue CHF 67.1B vs. CHF 68.8B last year
- Nestle sees FY24 underlying EPS growth in constant currency ‘broadly flat’
- Nestle board approves changes to company’s organization
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