Nestle: Outperforms blue-chip index after Q1 beat

Orior AG

24/04/2020 08:30

** Shares in Nestle  NESN.S  are up 1.3%, outperforming the
Swiss blue-chip index, after the food giant beat Q1 organic
sales expectations and confirmed its 2020 guidance  urn:newsml:reuters.com:*:nL5N2CC0Q0
    ** Jefferies says the breadth and depth of the company's
progress is "impressive" and adds it implies Nestle is having a
much better war than Unilever  ULVR.L 
    ** The brokerage notes that the beat was led by developed
markets and Petcare, which even if thanks to stockpiling, grew
by and impressive 13.9% 
    ** Baader Helvea continues to see Nestle as its preferred
defensive Swiss food and beverage play, compared to potentially
more affected plays like Lindt  LISN.S , Barry Callebaut
 BARN.S , Orior  ORON.S  and Aryzta  ARYN.S  
    ** The stock is at the top of the Swiss blue-chip SMI
 .SSMI  index (-0.7%)


 ((Veronica.snoj@tr.com))