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Jefferies raised the firm’s price target on Nestle (NSRGY) to CHF 75 from CHF 67 and keeps an Underperform rating on the shares ahead of the Q1 report. The shares have recovered 19% year-to-date as a “long-only squeeze” was triggered by reassurances on the company’s fiscal 2025 outlook, the analyst tells investors in a research note. However, the firm believes indicators from the key U.S. market “look unhelpful” for Nestle. Recent commentary and data suggest consumer demand has faltered through Q1 in the U.S., contends Jefferies.

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