Nestlé's lowered guidance weighs on shares despite solid half-year performance
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Nestle cut at UBS as model looks more aspirational than realistic
July 26, 2024 9:41 AM EDTUBS has downgraded Nestle from Buy to Neutral in a note Friday, citing challenges in achieving its growth objectives and disappointing quarterly results. The bank also lowered its target for the stock to CHF95 from CHF117.
According to UBS, the Nestle model now appears "increasingly aspirational rather than a realistic objective."
UBS highlighted several concerns following Nestle's fifth consecutive quarterly miss on Organic Sales Growth (OSG). The note pointed... More
