US EditionUBS Downgrades Nestle India Rating to 'Neutral', Raises Target Price
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UBS Downgrades Nestle India Rating to 'Neutral', Raises Target Price
According to analysts at brokerage UBS, Nestle India has been downgraded from a ‘buy’ to a ‘neutral’ rating due to its higher valuation. However, the target price for the stock has been raised from Rs 23,000 per share to Rs 24,500, suggesting a potential upside of up to 7% from the current trading price. UBS notes that the rich valuation of Nestle India, trading at 66 times 1-year forward earnings, 1 standard deviation above mean multiple, limit…
·Elkader, United States
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