NESTLÉ : Stifel downgrades its recommendation
"After waiting a few quarters and hoping for a pick-up in business momentum, we have come to the conclusion that there is little to gain in the short term, and that 2024 will at best be a year of transition", the broker also explains.
What's more, CEO Mark Schneider has fewer options than in the past, with an indebted balance sheet and higher interest rates reducing the margins for share buy-backs and possible external growth operations', he continues.
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