Trends Unchanged for Nestle in 2Q; Shares Fairly Valued
Nestle remains on track to meet our full-year forecast of almost 2% reported sales growth after a second quarter in which trends remained unchanged from the first quarter. We are unlikely to alter our CHF 79 fair value estimate by more than the impact of the time value of money, and we currently consider Nestle to be fairly valued. Although Nestle appears to be suffering from the low-growth environment more than most of its peers, the company's wide economic moat is based on its supply-chain ent...
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