Nestle on Track After 3Q Sales Update as Guidance Is Confirmed; Shares Fairly Valued
Nestle reported nine-month sales for fiscal 2018, with organic growth of 2.8% (2.3% volume growth and 0.5% pricing) broadly in line with our expectations. We maintain our wide moat rating and EUR 81 per share ($84 per ADR) fair value estimate. Management reiterated guidance of around 3% organic sales growth for fiscal 2018 and progress toward underlying operating profit margin improvement in line with its 17.5%-18.5%Â target for fiscal 2020.Growth overall was broadly in line with our full-year 3...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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