Report
Pierre Tegner

Nestle : Acquisition of Zenpep: a side step towards the medical domain. But the group maintains its focus on the stomach area

>Buy recommendation maintained: portfolio developments remain coherent - Buy recommendation and target price of CHF 117 maintained. With a 2020e PER of 22x, the stock continues to be reasonably valued relative to its peers (US and European) in Food HPC (PepsiCo: 26x, P&G: 25x, Mondelez: 22x) which are in the same phase of strategic refocusing while strengthening their risk profile through operational diversification (geographic areas, brands, business sub-segments, di...
Underlying
Nestle S.A.

Nestle 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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre Tegner

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