Nestle SA analysts are cutting their recommendations on the stock in droves on worries that the consumer company will struggle to drive profit growth, leaving it with most negative consensus rating in four years.
Nestle products. Photographer: Hollie Adams/Bloomberg --
The stock slipped 1.3 per cent in Zurich on Friday and was trading near the lowest since March 2020. Its consensus rating — a proxy for the ratio of buy, hold and sell recommendations — now sits at 3.8, below Danone SA, Mondelez International Inc. and PepsiCo Inc., according to data compiled by Bloomberg.
Consumers trading down to cheaper products are putting the squeeze on Nestle, which makes Kit Kat bars, Nescafe and infant formula. The company reported this week that revenue rose 2.1 per cent in the first half of the year, missing the 2.5 per cent expected by analysts.
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