Opinions

Credit Suisse announced this morning solid results significantly above market expectations (+13% on pre-tax income). Global Market and Investment bank units results coupled with strong net new inflows in the private banking entities and strong cost control ahead of schedule across the Group delivered the most of the upbeat...
Roche published this morning H1 2017 results slightly above expectations with enhanced 2017 guidance (conservative we believe)...
We believe organic growth should accelerate during H2 and that 2017 results are likely to be above guidance and current market expectations Nestlé is fairly valued with a 12m P/E of 21.6X and an EV/EBITDA of 15.8x We are confirming our Buy rating the 12m target price to CHF 90, as we believe new CEO Mark Schneider will be able to move and change Nestlé faster than previous one...