Edelweiss' research report on Nestle
This coupled with Nestle India’s growth-focused approach to regain lost ground in categories like coffee and ketchup is positive. Likely entry in 5 new categories—Nespresso (coffee machine), Dolce Gusto (coffee capsule system), pet care, healthcare and skincare—will also be keenly watched.
Outlook
We estimate 17% EPS CAGR over CY16-18. At CMP, the stock is trading at 49.4x CY17E and 38.1x CY18E. We maintain ‘HOLD/SP’ with target price of INR 7,276.
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