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.
