Maybank Research cuts Nestle TP to RM63.60, maintains Hold


KUALA LUMPUR: Maybank IB Research is maintaining its Hold call on Nestle Bhd with the target price cut to RM63.60 from RM68 based on 23 times price-to-earnings ratio for 2015.

This follows the lowering of FY15/16 net profits forecasts by 8%-7% after factoring in weaker export sales, said the research house.

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