Buy Nestle India; Target Of Rs 19,055: Sharekhan
Sharekhan is bullish on Nestle India has recommended buy rating on the stock with a target price of Rs 19,055 in its research report dated October 23, 2020.
Oct 27, 2020 / 04:01 PM IST
Sharekhan's research repor on Nestle India
Nestle India’s (Nestle’s) revenues grew by 10% y-o-y to Rs. 3,525.4 crore in Q3CY2020; domestic sales grew by 10.2% y-o-y (improving from 2.6% in Q2CY2020). Boosted by in-house demand, brands like Maggi Noodles & Sauces, Kit Kat, Munch, Nescafe Classic and Sunrise registered double-digit growth in Q3CY2020. Rising in-house consumption, sustained new launches and expansion in distribution network remains key growth driver in the near to medium term. Stock currently trades at 51x its CY2022E EPS.
We maintain our Buy recommendation on the stock with unchanged PT of Rs. 19,055.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.