Nestle's stock experienced a slight decline on Friday, closing at 83.82 CHF, down 0.3%. Despite this dip, the Swiss food giant maintains its heavyweight status in the SMI index. Analysts project a dividend of 3.09 CHF per share for the current year, marking a modest increase from the previous period. The broader market also showed weakness, with the SMI losing 0.1% to close at 11,997 points.
Long-term outlook remains positive
Experts continue to see potential in Nestle's stock, despite the recent downturn. The average price target stands at 94.00 CHF, suggesting an upside of over 12%. Analysts expect earnings of 4.78 CHF per share for the 2024 fiscal year. However, the consensus among experts is to hold the stock, indicating a cautious stance given current market conditions. Investors are advised to closely monitor upcoming developments and company news to make informed investment decisions.
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