Nestle's New CEO Is Doing the Right Thing -- Market Talk

Dow Jones10-18

0539 GMT - Nestle's willingness to invest and to expand its market--rather than just take a bigger share of it--and realistic tone on its outlook suggest new CEO Laurent Freixe is doing the right thing, RBC Capital Markets analysts James Edwardes Jones and Wassachon Udomsilpa say in a research note. Shares in the Swiss consumer-goods giant are 30% off their three-year peak, reflecting its inconsistent delivery against expectations and a challenging consumer backdrop, RBC says. However, Nestle's investments to support growth under Freixe could strengthen its portfolio and its acknowledgment that it will take time for productivity gains to offset the resulting profitability hit is welcome, the analysts say. RBC raises its recommendation on Nestle to outperform from sector perform, noting it last had such recommendation in 2019. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

October 18, 2024 01:40 ET (05:40 GMT)

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