NESTLE
MORGAN STANLEY ON NESTLE : 29.07.2021
• Maintain Equal-weight, Target at Rs 17,511/share
• 2Q earnings were ahead of our estimates, but missed consensus
• Double-digit domestic top-line growth
* Growing revenue contribution from e commerce channels
CLSA ON NESTLE : 29.07.2021
* Maintain Outperform, Target at Rs 18,500/share
* Top-line and margin misses; 2Q normalcy should help recovery
* Top-line two-year Cagr slowed to 8% vs 10%
* Better execution needed, structural prospects remain
CLSA ON NESTLE INDIA : 29.07.2021
* Topline & margin miss for Nestle India but Q2 normalcy should help recovery, CLSA says, maintains OUTPERFORM on the stock
* MAINTAIN OUTPERFORM TARGET: 18,500 (PREVTGT:19,000)
* Topline & Margin Miss; Q2 Normalcy Should Help Recovery
• Q2 Weaker Than Expected, With Sales, EBITDA & Profit Growth Of 14/10/5% YoY
* Drop In Sales Two-year CAGR From 10% To 8% Is Unsatisfactory
* Expect Company To Leverage Penetration Opportunities
* Cut Earnings Estimates By 3%.
JPMORGAN ON NESTLE INDIA : 29.07.2021
* Nestle India's Q2 performance misses on revenue; gross margin declines QoQ, JPMorgan stays NEUTRAL on the stock due to limited scope for earnings upgrades
* MAINTAIN NEUTRAL TARGET: 17,700
* Q2 Misses On Revenue; Gross Margin Declines QoQ
• Scope For Higher Dividend Payout Remains
* Stay Neutral Due To Limited Scope For Earnings Upgrades
CREDIT SUISSE ON NESTLE INDIA : 29.07.2021
* Nestle sees healthy growth, but no longer an outlier, Credit Suisse says, remains positive on long-term prospects
* MAINTAIN NEUTRAL TARGET: 18,350
* Healthy Growth, But No Longer An Outlier
* Remain Positive On Long-term Prospects
* Neutral Due To Stretched Valuations & Limited Room For A Positive Surprise
* Cut CY21-23 Earnings By 3%
UBS ON NESTLE INDIA : 29.07.2021
* UBS maintains BUY on Nestle with target of Rs 21,500/sh.
* Key Categories Drive Growth; e-Commerce Accelerates
* Q2CY21 Domestic Sales Up 13.7% YoY
* New Product Contribution Growing; Expansion On Track
* MAINTAIN BUY TARGET: 21,500
