MUMBAI: Brokerages remained sceptical on Nestle India post its third quarter results due to a tough demand scenario in the FMCG space. Reliance Securities has a reduce on the stock with a target price of Rs 5,647. Even in CY16, Nestlé’s performance excluding Maggi has been disappointing.”Motilal Oswal has a neutral view on the stock with a target price of Rs 6,840. Prabhudas Lilladher also has a reduce on the stock though it said that Nestle’s fourth quarter results were better than its estimates. The brokerage has a target price of Rs 5,261 on the stock.

Source: Economic Times February 20, 2017 15:31 UTC