1115 GMT - Nestle's new plan leaves long-term questions that might only be answered by more drastic actions to reshuffle its portfolio, Citi analysts say in a research note. The Swiss food giant's medium-term organic sales growth of more than 4% doesn't put it significantly ahead of peers like Danone and Unilever and this is where a portfolio reshuffling might be necessary, according to Citi. The company is making its waters and premium beverages operations a standalone business and reviewing options. However, this is the only business where Nestle is taking strategic action and Citi would have hoped for more, the analysts say. Lack of potential buyers probably made it difficult to take action on its frozen or confectionary businesses, Citi says. Shares fall 1.6%.(adria.calatayud@wsj.com)
(END) Dow Jones Newswires
November 19, 2024 06:16 ET (11:16 GMT)
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