Jefferies cuts Nestlé stock target to CHF 94.00

Published on 09/29/2026 at 10:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nestle stock was trading at CHF 76.96 on September 29, 2026, while Jefferies set a CHF 94.00 target. H1 organic growth reached 3.60 percent.

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Nestlé stock (ISIN CH0038863350) was trading at CHF 76.96 on SIX at 10:15 a.m. CEST on September 29, 2026, down 0.05 percent from the prior close of CHF 77.00. The immediate catalyst is a lower Jefferies target, although the research house kept its Buy rating.

Jefferies lowers its target

According to Aktiencheck on September 28, 2026, Jefferies reduced its Nestlé price target from CHF 99.00 to CHF 94.00 and retained a Buy rating. Analyst David Hayes lowered his organic-growth estimate ahead of the company's October 22 quarterly sales update, but still placed it above consensus.

The revised target remains CHF 17.04 above the SIX price, or 22.14 percent higher. That gap gives the target cut a mixed message: Jefferies sees a positive volume trend, but its valuation framework now allows less upside than before.

Organic growth improves in H1

Nestlé delivered 3.60 percent organic sales growth in H1 2026, including 1.50 percent real internal growth and 2.10 percent pricing, according to RAOSCAFF. In Q2 2026, real internal growth accelerated to 1.80 percent from 1.20 percent in Q1 2026, creating a stronger volume contribution within the half-year result.

Management's 2026 guidance calls for organic growth of 3.00 percent to 4.00 percent, an underlying trading operating profit margin improvement and free cash flow above CHF 9.0 billion. H1 net profit fell 31.40 percent, showing that operating progress and reported earnings are moving on different tracks.

October sales date sets the next test

Nestlé said on September 28, 2026, that it will publish 2026 nine-month sales on October 22, 2026. The update will show whether the 3.60 percent H1 organic-growth pace and the 1.80 percent Q2 real internal growth rate are carrying into the second half.

Nestle stock stays below target

Nestlé stock was trading at CHF 76.96 on SIX on September 29, 2026, with a 52-week range of CHF 70.29 to CHF 87.09 and market capitalization of CHF 198.0 billion. The share price stood 18.13 percent below Jefferies' CHF 94.00 target, while daily volume reached 286,261 shares.