CMP: Rs 1,500.10
Target price: Rs 1,750
CLSA India has retained its ‘outperform’ rating on Nestle India with a 12-month target price of Rs 1,750, after the company reported strong growth in earnings for the October-December quarter (2008). “For the eight quarter in a row, Nestle’s topline growth has convincingly exceeded 20%. Domestic growth was even better at 25% y-o-y and 4Q results reflect that despite weak macro environment, urban-focused portfolio of Nestle is still witnessing a healthy growth,” a CLSA note said.
Source: ET
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