Report
Philip Gorham, CFA, FRM
EUR 101.80 For Business Accounts Only

Review of U.S. Confectionery Business Marks Beginning of Evolution in Nestle's Portfolio

We think Nestle's announcement it is to undertake a strategic review of its U.S. confectionery business is more significant for its implications regarding a potential portfolio realignment than it is for its financial significance. We are reiterating both our wide moat rating and our CHF 79 fair value estimate for the ordinary shares. Nestle will remain a highly entrenched consumer product manufacturer in the U.S., even if it disposes of this unit, because its portfolio will remain very broad an...
Underlying
Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Philip Gorham, CFA, FRM

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