ICICI Direct is bullish on Nestle India has recommended buy rating on the stock with a target price of Rs 7417 in its research report dated February 16, 2017.
ICICI Direct's research report on Nestle India
We remain positive on the company’s future prospects given its thrust on a) creating a balanced portfolio through new launches and planned entry in new categories, b) aggressive communication strategies and c) expanding the reach. We expect revenue and profit to grow at a CAGR of 15.1% and 26.8%, respectively, in CY16-18E. We reiterate our BUY recommendation on the stock with a target price of Rs 7417/share.
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