Nestle Investor Says Stock Too Cheap After Worst Year on Record [Yahoo! Finance Canada]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The shares have fallen 25% this year, on track for the biggest annual drop on record, and that makes them “far too cheap,” Christopher Rossbach, chief investment officer of J. Stern, said in an interview. “The time to buy a quality company like Nestle is now, when investors have lost faith in it,” said Rossbach, whose World Stars Global Equity fund has been adding to its Nestle holdings throughout the course of the year. For a company long associated with stability, it's been a turbulent 12 months. Just a few weeks after reducing its sales guidance in the summer, Nestle ousted its chief executive officer. Struggles with product innovation have compounded a tough macro-economic environment and concerns about how weight-loss drugs might affect eating habits. But with Nestle now trading at a discount of about 25% to its average valuation over the past decade, some market participants say the selloff has gone too far. Analysts see the stock rising more th
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