MIDF maintains a NEUTRAL stance on the consumer sector, highlighting Nestle S.A.’s robust sustainability efforts under the Nescafe Plan 2030 and Nestle Cocoa Plan, tackling child labor and promoting regenerative agriculture.
Despite these strengths, MIDF recommends an UNDERWEIGHT on Nestle Malaysia due to pricey valuations and a dim earnings outlook, setting a target price of RM73.00/share (under review).
Nescafe Plan
Selective BUYs include 99 Speed Mart (TP: RM2.60/share), MR D.I.Y. Group (TP: RM2.10/share), and Spritzer (TP: RM1.77/share), reflecting a cautious yet opportunistic sector view.
Nestle S.A. is at the forefront of sustainable sourcing. All suppliers and third parties must adhere to the Nestle Responsbile Sourcing Standard.
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