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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
 
 
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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.


Outlook


We maintain our Buy recommendation on the stock with unchanged PT of Rs. 19,055.


For all recommendations report, click here


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Broker Research
first published: Oct 27, 2020 04:01 pm

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