Jefferies cuts target for Nestle stock from CHF 99 to CHF 94

Published on 10/02/2026 at 16:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nestle's first-half 2026 sales reached CHF 43.1 billion. Nestle stock was at EUR 80.28 on October 2, 2026, plus 0.30 percent versus EUR 80.04.

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Nestle stock (ISIN CH0038863350) was trading at EUR 80.28 at Lang & Schwarz on October 2, 2026 at 4:30 p.m. CEST, plus 0.30 percent versus the prior close of EUR 80.04. On September 28, 2026, Jefferies lowered its price target from CHF 99.00 to CHF 94.00 while retaining a Buy rating, according to Markets Insider.

Jefferies trims its target

The target reduction came ahead of Nestle's nine-month sales publication on October 22, 2026. Jefferies also lowered its estimate for third-quarter organic sales growth to 3.5 percent from a consensus forecast of 3.3 percent, keeping the forecast above the comparison level cited by the firm.

The adjustment places the CHF 94.00 target 25.00 percent above the CHF 75.20 reference price used in the analyst report. Nestle's current euro quote is a separate Lang & Schwarz market reference and is not combined with the Swiss franc target.

First-half growth meets a test

Nestle reported CHF 43.1 billion in sales for the first half of 2026, versus CHF 44.2 billion in the same period of 2025, while organic growth reached 3.6 percent. The official Nestle half-year report said real internal growth was 1.5 percent and pricing contributed 2.1 percentage points.

Underlying trading operating profit was CHF 7.1 billion, compared with CHF 7.3 billion a year earlier, and the underlying trading operating profit margin was 16.4 percent versus 16.5 percent. Net profit fell 31.4 percent to CHF 3.5 billion, reflecting restructuring costs and a write-down of assets held for sale.

Russia adds an asymmetric risk

Nestle said on September 18, 2026, that Russia's presidential decree placed Nestle Russia under temporary external administration and that the company was assessing its situation and options, according to the Nestle release. The company also committed to protecting its rights and maintaining business continuity.

Reuters reported on September 21, 2026, that Nestle's Russian subsidiary pledged to continue operations after the assets were transferred to temporary control. The situation therefore adds a legal and operational variable to an earnings picture already shaped by currency, coffee and cocoa costs.

October 22 sets the next checkpoint

Nestle's next scheduled disclosure is its nine-month sales publication on October 22, 2026, as stated in the company's investor calendar and aide-memoire dated September 28, 2026. The Nestle investor update makes that date the next numerical checkpoint for the 3.5 percent Jefferies estimate and the company's 2026 organic-growth range of 3.00 percent to 4.00 percent.

At Lang & Schwarz, Nestle was trading at EUR 80.28 on October 2, 2026 at 4:30 p.m. CEST, plus 0.30 percent versus the EUR 80.04 prior close of October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of Nestle stock.