Nestle : Negative volume/mix effect in Q3: risk of misunderstanding over comps. Sequential improvement vs Q2
>Stock likely to react negatively if weaker RIG in Q3 not seen alongside demanding comps - Outperform rating maintained with a target price of CHF 118, implying a P/E of 23x for 2023e, which we think is justified compared to similar quality stocks such as P&G (21x) or PepsiCo (24x). The 9M 2022 sales release shows a negative volume/mix effect in Q3. This is not what the consensus was expecting despite the very adverse comparatives which we have highlighted several tim...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.
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.
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