Nestle registers 4% increase in Q3 profit; what should investors do?

Nestle registers 4% increase in Q4 profit; what should investors do?

ZeeBiz Desk Feb 08,2024

Nestle India reported a 4.4% rise in its net profit at Rs 655.6 crore for the October-December quarter compared to Rs 628 crore in the same period of the previous year.

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The company declared an interim dividend of Rs 7 per share.

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Here's what brokerages recommend on Nestle:

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CLSA maintains a 'reduce' rating

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Macquarie maintains 'neutral'

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Goldman continues with 'neutral'

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Jefferies continues with a 'hold' call

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JP Morgan maintains 'overweight'

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Morgan Stanley iterates an 'underweight' rating

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Nomura continues with a 'buy' rating

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HSBC iterates 'hold' stance

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Nestle registers 4% increase in Q4 profit; what should investors do?

Nestle India reported a 4.4% rise in its net profit at Rs 655.6 crore for the October-December quarter compared to Rs 628 crore in the same period of the previous year.

The company declared an interim dividend of Rs 7 per share.

Here's what brokerages recommend on Nestle:

CLSA maintains a 'reduce' rating

Cuts the target to Rs 2,634 from Rs 2,689.

Macquarie maintains 'neutral'

Gives a target of Rs 2,500.

Goldman continues with 'neutral'

Raises the target to Rs 2,500 from Rs 2,400.

Jefferies continues with a 'hold' call

Gives a target price of Rs 2,475.

JP Morgan maintains 'overweight'

The brokerage gives a target price of Rs 2,800.

Morgan Stanley iterates an 'underweight' rating

Gives a target price of Rs 2,800.

Nomura continues with a 'buy' rating

The brokerage gives a target of Rs 2,810.

HSBC iterates 'hold' stance

The brokerage gives a target of Rs 2,810.