Nestlé: catalysts unlikely until H2; we remain Neutral
Nestlé slightly missed expectations for FY23 numbers yesterday and provided disappointing FY24 guidance of c4% organic growth. On the back of the publication and call, we slightly adjust our numbers and continue to see limited positive catalysts in the mid-term, prompting us to remain Neutral, PT CNestle is a holding company which is based in Switzerland. Through its subsidiaries and allied companies, Co. is engaged in the food processing industry. Co.'s product portfolio has seven categories, Powder and Liquid Beverages, Nutritional and Health Science, Milk products and ice cream, Prepared dishes and cooking aids, PetCare, Confectionery and Water.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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