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The Sensex and Nifty fell by 1% amid persistent FII outflows and disappointing earnings, marking the fifth consecutive session of declines. The broader market suffered significantly, with the BSE Midcap and Smallcap indices down 2% and nearly 3%, respectively, while India VIX rose over 7%. IndusInd Bank's shares plummeted nearly 20% following poor quarterly results, contrasting with Godrej Consumer Products, which saw a 2% rise after positive brokerage calls.
Nestlé, the world's largest food manufacturer, has maintained its dividend since 1959, increasing it annually for 29 years. Despite a 30% drop in share value since late 2021, experts suggest the worst is over, with a potential slight increase in the 2024 dividend yield expected at around 3.5%. The company remains solidly financed and a market leader in many segments, presenting a favorable entry point for investors.
The UBS Residential Attractiveness Index highlights medium-sized centers like Vevey and Locarno as ideal for families, emphasizing infrastructure, leisure options, and cost of living. While top earners favor cities like Zurich, many municipalities excel across income levels, with a notable trend of shorter relocations within ten kilometers.
UBS has reduced its price target for Nestlé from 91 to 83 francs while maintaining a "Neutral" rating. Analyst Guillaume Delmas noted that management is hesitant to confirm its organic growth target of 4 to 6 percent, indicating a shift towards outperforming the market rather than adhering to fixed goals. Challenges in certain sectors, particularly frozen food in the US, may lead to further divestments.
UBS AG has downgraded Nestlé's price target from 91 to 83 francs while maintaining a "Neutral" rating, citing management's hesitance to confirm its organic growth target of 4 to 6 percent. Analyst Guillaume Delmas noted challenges in certain sectors, particularly frozen food in the US, which may lead to further divestitures. As of 11:03 am, Nestlé shares fell by 0.4 percent to CHF 85.62, reflecting a 9.3 percent decline since the start of 2024, with a downside risk of 3.06 percent compared to the new target price.
UBS has reduced its price target for Nestle from 91 to 83 francs while maintaining a "Neutral" rating. Analyst Guillaume Delmas noted that management is hesitant to confirm its organic growth target of 4 to 6 percent, indicating a shift towards outperforming the food and beverage market instead of adhering to fixed goals. Ongoing challenges in certain sectors, particularly frozen food in the US, may lead to further divestments to enhance sales growth and margins.
UBS has lowered its target price for Nestlé S.A. to 83 francs, maintaining a 'Neutral' rating. Nestlé, the world's largest food group, generates sales across various sectors, including beverages (26.7%), pet food (20.3%), and pharmaceutical products (16.4%), with significant market presence in the USA and Canada (35%).
UBS has reduced its target price for Nestlé from 91 to 83 francs while maintaining a "Neutral" rating. Analyst Guillaume Delmas noted that management is hesitant to confirm its organic growth target of 4 to 6 percent, indicating a shift towards outperforming the food and beverage market instead of adhering to fixed goals. Ongoing challenges in certain sectors, particularly frozen food in the US, may lead to further divestments to enhance sales growth and margins.
UBS has reduced its price target for Nestlé from 91 to 83 francs while maintaining a "Neutral" rating. Analyst Guillaume Delmas noted management's hesitance to confirm an organic growth target of 4 to 6 percent, indicating a shift towards outperforming the market rather than adhering to fixed goals. Ongoing challenges in certain sectors, particularly frozen food in the US, may lead to further divestments.
UBS's acquisition of Credit Suisse has raised concerns about its dominance in the Swiss banking market, prompting discussions among regulatory authorities, including the Price Supervisor and the Competition Commission. Complaints from the public and businesses regarding potential negative impacts on competition were addressed, although no formal agreements were reached. The authorities emphasized the need for ongoing communication, particularly regarding credit interest rates, while deciding to postpone a proposed Memorandum of Understanding.
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