Nestle : Q3: are the unfavourable comps clearly identified?
>Outperform rating maintained - Outperform rating maintained with a target price of CHF 118 which implies a P/E of 23x for 2023e. Compared to Danone and Unilever which show a 2023 P/E of 14x and 16x respectively, Nestlé’s premium may be seen as a risk by some. But we think it is wrong to compare Nestlé to these to two stocks, on which we are also at Outperform. Danone and Unilever are, importantly, hybrid groups with significant (and plausible) refocusing potential wh...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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