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UBS has rated Nestlé S.A. as 'Neutral' with a target price of 80 francs. As the largest food group globally, Nestlé's sales are diversified across various sectors, including beverages (26.7%), pet food (20.3%), and pharmaceuticals (16.4%), with significant market presence in the USA and Canada (35%).
Nestlé S.A., the world's leading agri-food group, reports net sales across various categories, with powdered and liquid beverages at 26.7%, pet food at 20.3%, and pharmaceutical products at 16.4%. Geographically, 35% of sales come from the U.S. and Canada, followed by Asia and Oceania at 21.4%. The company faces cost pressures and a slow recovery outlook for FY25.
Richard Dindo, the renowned Swiss filmmaker and documentary maker, passed away at the age of 80 in a Paris hospital, surrounded by family. His contributions to cinema have left a lasting impact on the industry. In other news, rents in Switzerland are on the rise, with a 0.2% increase in January and a 3.1% annual growth, driven by significant hikes in low-tax cantons.
UBS shares have been removed from a model portfolio by a strategist, following a recent reinstatement by another analyst. The Swiss market shows mixed performance, with Givaudan gaining slightly while Sonova and Dätwyler face declines. Notable updates include Galderma receiving EMA marketing authorization and Novartis gaining FDA orphan drug designation for Ianalumab.
Swiss stocks rose, with the Swiss Market Index up 1.85%, as inflation eased to 0.4% in January. Nestlé shares surged 6.22% after affirming its 2025 growth outlook, despite a 1.8% sales drop in 2024. Conversely, Swisscom's stock fell 3.04% following a 9.9% decline in net income due to acquisition costs.
UBS has named Roche as its preferred Swiss pharmaceutical stock, upgrading its rating to "Buy" and raising the target price from CHF 300 to CHF 338. The firm cites Roche's sustainable growth, driven by strong performances from Vabysmo and Ocrevus, and anticipates significant sales increases from ongoing development projects, including Ocrevus HD and Trontinemab. While Roche's earnings per share growth is projected at 8.1% from 2024 to 2029, slightly below the industry average, UBS remains optimistic about the company's long-term potential and cash flow for acquisitions.
The Swiss stock market experienced a slight decline, with the SMI closing 0.24% lower at 12,593.34 points, marking its first loss after six weeks of gains. Swisscom and Holcim saw gains amid merger rumors, while financial stocks like Julius Baer and Partners Group faced significant losses. The US labor market data influenced investor sentiment, with employment growth slightly below expectations but a drop in the unemployment rate to 4%.
The Swiss stock market maintained its upward momentum at midday, with the SMI up 0.44% as concerns over the US-China trade conflict lingered. UBS led gains at +1.9%, while Temenos rose 1.4% after selling its fund management unit. However, Leonteq faced an 8.4% drop following regulatory sanctions.
The Swiss stock market opened higher on Thursday, continuing its positive trend from the previous day, buoyed by favorable US data and easing trade tensions. The SMI rose 0.19% to 12,604.86 points, with UBS leading gains at +1.6%, while Nestlé and Roche weighed on the indices. The unemployment rate in Switzerland surpassed 3% in January, reflecting a 20% increase compared to the previous year.
UBS has maintained a "Neutral" rating for Nestlé, setting a target price of 80 francs. Analyst Guillaume Delmas highlighted concerns regarding the impact of rising cocoa prices on the food group's profitability for the current year.
Nestlé S.A.
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