Nestle price target raised to CHF 86 from CHF 84.50 at Jefferies

Jefferies raised the firm’s price target on Nestle to CHF 86 from CHF 84.50 and keeps an Underperform rating on the shares. Following April’s Q1 sales update, the firm reviewed expectations and said that U.S. consumer demand “seems unlikely to step up substantially given ongoing narratives.” Another sales miss prompts more worry on margins, which in turn prompts further earnings and valuation risk, the analyst tells investors.