CIMB lifts Nestle (Malaysia) target price to 118 ringgit and keeps buy rating
CIMB Securities expects resilient demand and continued earnings growth at Nestle (Malaysia) into the fourth quarter. Shares rose 4.9%.
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what happened
According to Market Talk, CIMB Securities analyst Walter Aw Lik Hsin expects demand for Nestle (Malaysia)'s products to stay strong. He points to consumer spending focused on daily essentials and cash assistance under Budget 2027.
Aw thinks earnings growth should continue into the fourth quarter, helped by festive sales and cost efficiencies, although higher input costs could weigh on margins. He raised his 2026-2028 earnings per share estimates by 8.1% to 17%, reflecting a better margin outlook. CIMB raised its target price for the stock to 118 ringgit from 115 ringgit and kept its buy rating. At the time of the report, shares were 4.9% higher at 98.88 ringgit.
why it matters
For investors, the note is a sign that Malaysian consumer staples companies may benefit from steady demand for essential goods. A single analyst's view rarely moves the broader market, but revised earnings forecasts are typically factored into how the stock is valued.
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sources
- Nestle (Malaysia)'s Earnings Outlook Could Remain Bright — Market Talk, 28 October 2026 at 02:24 UTC
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