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Market Analysts Place Sell Order On Nestle’s Stocks

FSDH Securities Limited Analysts, have said that the current market price of Nestle Nigeria Plc is highly overvalued, emphasizing that the fair value for Nestle is N660.84 per share.

The analysts have therefore put a sell order on the stock.

Nestle closed at N1,000 per share yesterday, signifying a premium of 33 per cent on the N660.84 valuation given by the analysts.

Half year results released by Nestle recently, indicated that its turnover leaped by 7.62 per cent to N67.20 billion, compared with N62.45 billion recorded in the corresponding period of 2013.

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