Nestle India Q4 results
The stock of the consumer products firm — which follows a January-December financial year — finished stronger by Rs 554.2 or 2.9 per cent at Rs 19,800 apiece on BSE after the announcement of the final dividend for the year.
According to Journalpur Business research, the company’s quarterly profit was estimated at Rs 617 crore and revenue at Rs 4,341 crore.
What brokerages recommend on Nestle India after the company’s Q4 results
According to JPMorgan, which reiterated its ‘overweight’ rating on Nestle India with a target price of Rs 21,200 — implying upside potential of eight per cent from Thursday’s closing price, the company’s quarterly performance was mixed, as the margin exceeded the brokerage’s estimates but low unit packs (LUPs) weighed on volumes.
Brokerage | Rating | Target price |
CLSA | Sell | Raised to RS 18,900 from Rs 17,370 |
JPMorgan | Overweight | Rs 21,200 |
Morgan Stanley | Underweight | Raised to Rs 15,315 from Rs 14,566 |
Goldman Sachs | Neutral | Raised to Rs 19,900 from Rs 19,500 |
Jefferies | Hold | Reduced to Rs 18,100 from Rs 18,300 |
HSBC | Buy | Raised to Rs 22,000 from Rs 21,800 |
Nomura | Buy | Rs 22,900 |
According to Goldman Sachs, which raised its target price for Nestle India by Rs 400, large price hikes in low unit packs led to sharp moderation in volume growth. The brokerage found the company’s quarterly performance in line with its estimates.
Goldman Sachs brought down its earnings per share (EPS) estimates for Nestle India by 0.2 per cent for 2023 and 1.1 per cent for the next year.
[Disclaimer: This story was automatically generated by a computer program and was not created or edited by Journalpur Staff. Publisher: Journalpur.com]
#buy #sell #hold #Maggi #instant #noodles #maker #Nestle #Indias #shares
Related Articles:
This post first appeared on India, News, Blogs, Yojana, Biography, Education, Health, Finance, Investment Blog, Job, Vacancy, please read the originial post: here